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This paper explores the determinants of long-term government bond yields in the Group of Seven (G-7) economies and analyzes the factors that could explain the conundrum of very low rates in the face of a variety of adverse factors in recent years. In particular, the paper focuses on the...
Persistent link: https://www.econbiz.de/10014400377
Persistent link: https://www.econbiz.de/10010479447
This paper compiles the Intertemporal Public Sector Balance Sheets for all G7 countries and examines their relationship with government borrowing costs. In 2018, all G7 countries have negative Intertemporal Net Financial Worth (INFW), falling short of their intertemporal budget constraint. A...
Persistent link: https://www.econbiz.de/10012613501
Germany and the Czech Republic, Hungary, Poland, and Slovakia (the CE4) have been in a process of deepening economic … integration which has lead to the development of a dynamic supply chain within Europe—the Germany-Central European Supply Chain … relatively small. This is explained by the supply chain nature of trade integration: final demand in Germany is not necessarily …
Persistent link: https://www.econbiz.de/10012667496
This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...
Persistent link: https://www.econbiz.de/10012251959
This paper discusses recent empirical research on the interplay between fiscal policies and external imbalances in the G3 countries, focusing on the stock-flow dynamics of public and foreign deficits and debt accumulation
Persistent link: https://www.econbiz.de/10014395805
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395956
To monitor fiscal sustainability, this paper proposes a recursive algorithm derived from the law of motion of the debt-to-GDP ratio, subject to a government reaction function that links convergence to the targeted debt ratio with primary fiscal surpluses. Based on quarterly estimates of this...
Persistent link: https://www.econbiz.de/10014400141
.S., Canada, Australia and Germany. It finds that, as for central governments, fiscal fundamentals matter in the pricing of risk …
Persistent link: https://www.econbiz.de/10011374734
Persistent link: https://www.econbiz.de/10003639669