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Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel »

Source: Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Volume/Issue: 2013/159

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , and Sergio Sola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2013

ISBN: 9781484394502

Keywords: Real time data, Cross-sectional dependence, Heterogeneous panels, public debt, fiscal stance, budget deficits, fiscal variables, General, International Policy Coordination and Transmission, Globalization: Macroeconomic Impacts

This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset...

1. Domestic Expansion Running into External Turbulence

1. Domestic Expansion Running into External Turbulence »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Activity continued to expand in the first half of 2018, but at a slower-than-expected pace, mainly in advanced Europe. The external environment has become less supportive, with slow...

Executive Summary

Executive Summary »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment...

Fiscal Consolidation and the Cost of Credit

Fiscal Consolidation and the Cost of Credit »

Source: Fiscal Consolidation and the Cost of Credit : Evidence from Syndicated Loans

Volume/Issue: 2013/36

Series: IMF Working Papers

Author(s): Senay Agca , and Deniz Igan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2013

ISBN: 9781475564440

Keywords: cost of credit, loan spreads, fiscal consolidations, spending cuts, fiscal policy, Firm, General,

We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data, we find that loan...

Fiscal Policy and Growth in the Context of European Integration

Fiscal Policy and Growth in the Context of European Integration »

Source: Fiscal Policy and Growth in the Context of European Integration

Volume/Issue: 2000/133

Series: IMF Working Papers

Author(s): Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

ISBN: 9781451855487

Keywords: fiscal federalism, tax competition, tax rates, fiscal policies, pension, pensions

The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiari...

Monetary and Exchange Rate Policies of the Euro Area
			: The Euro Area Stability Programs

Monetary and Exchange Rate Policies of the Euro Area : The Euro Area Stability Programs »

Volume/Issue: 2000/63

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2000

DOI: http://dx.doi.org/10.5089/9781451812916.002

ISBN: 9781451812916

Keywords: expenditures, expenditure, fiscal effort, tax cuts, fiscal consolidation

This report describes the monetary and exchange rate policies of the euro area and the euro area stability programs. The Stability and Growth Pact presents annual stability programs (SPs), which outlines the medium...

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel »

Volume/Issue: 2013/159

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , and Sergio Sola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2013

DOI: http://dx.doi.org/10.5089/9781484394502.001

ISBN: 9781484394502

Keywords: Real time data, Cross-sectional dependence, Heterogeneous panels, public debt, fiscal stance, budget deficits, fiscal variables, General, International Policy Coordination and Transmission, Globalization: Macroeconomic Impacts

This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset...

Fiscal Consolidation and the Cost of Credit
			: Evidence from Syndicated Loans

Fiscal Consolidation and the Cost of Credit : Evidence from Syndicated Loans »

Volume/Issue: 2013/36

Series: IMF Working Papers

Author(s): Senay Agca , and Deniz Igan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2013

DOI: http://dx.doi.org/10.5089/9781475564440.001

ISBN: 9781475564440

Keywords: cost of credit, loan spreads, fiscal consolidations, spending cuts, fiscal policy, Firm, General,

We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data, we find that loan...

Fiscal Policy and Growth in the Context of European Integration

Fiscal Policy and Growth in the Context of European Integration »

Volume/Issue: 2000/133

Series: IMF Working Papers

Author(s): Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

DOI: http://dx.doi.org/10.5089/9781451855487.001

ISBN: 9781451855487

Keywords: fiscal federalism, tax competition, tax rates, fiscal policies, pension, pensions

The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiari...

Interest Rates and Government Debt
			: Are the Linkages Global Rather Than National?

Interest Rates and Government Debt : Are the Linkages Global Rather Than National? »

Volume/Issue: 1991/6

Series: IMF Working Papers

Author(s): Mark Lutz , and Vito Tanzi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1991

DOI: http://dx.doi.org/10.5089/9781451842227.001

ISBN: 9781451842227

Keywords: public debt, government debt, debt ratios, fiscal variables, debt ratio

Given the increasing integration of financial markets, a better understanding of the effects of fiscal deficits and debt on real interest rates might be obtained by taking a global, rather than a national, perspect...