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The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs

The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs »

Source: The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs

Volume/Issue: 1994/75

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451849660

Keywords: nominal interest rate, bonds, foreign bonds, real money

This paper examines the behavior of real interest rates in exchange-rate based stabilization programs. The analysis is based on a model with imperfect capital mobility and optimizing agents. A permanent reduction i...

Commodity Prices and Inflation Expectations in the United States

Commodity Prices and Inflation Expectations in the United States »

Source: Commodity Prices and Inflation Expectations in the United States

Volume/Issue: 2012/89

Series: IMF Working Papers

Author(s): Oya Celasun , Lev Ratnovski , and Roxana Mihet

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502633

Keywords: inflation rate, aggregate demand, treasury bonds, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation,

U.S. monetary policy can remain extraordinarily accommodative only if longer-term inflation expectations stay well-anchored, including in response to commodity price shocks. We find that oil price shocks have a sta...

The Determinants of U.S. Real Interest Rates in the Long Run

The Determinants of U.S. Real Interest Rates in the Long Run »

Source: The Determinants of U.S. Real Interest Rates in the Long Run

Volume/Issue: 1991/118

Series: IMF Working Papers

Author(s): Sharmini Coorey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1991

ISBN: 9781451854053

Keywords: real interest rates, inflation, bonds, real rates, real interest rate

This paper examines the factors which influence the behavior of real interest rates in the United States over the long run. Data on real and nominal returns to bonds and equities are tested for unit root non-statio...

Estimating and Interpreting Forward Interest Rates

Estimating and Interpreting Forward Interest Rates »

Source: Estimating and Interpreting Forward Interest Rates : Sweden 1992-1994

Volume/Issue: 1994/114

Series: IMF Working Papers

Author(s): Lars Svensson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1994

ISBN: 9781451853759

Keywords: inflation, bond, bonds, monetary policy, coupon bonds

The use of forward interest rates as a monetary policy indicator is demonstrated, using Sweden 1992-1994 as an example. The forward rates are interpreted as indicating market expectations of the time-path of future...

How to Evaluate GDP-Linked Warrants

How to Evaluate GDP-Linked Warrants »

Source: How to Evaluate GDP-Linked Warrants : Price and Repayment Capacity

Volume/Issue: 2006/85

Series: IMF Working Papers

Author(s): Ken Miyajima

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863451

Keywords: GDP-linked bonds, Monte Carlo methods, binomial model, inflation, growth rates, real gdp, inflation rates, gdp growth,

Following a brief review of the recent history of GDP-linked instruments, this paper proposes a set of tools to examine the quantitative properties of GDP-linked warrants. It argues that trigger conditions should b...

Commodity Prices and Inflation Expectations in the United States

Commodity Prices and Inflation Expectations in the United States »

Volume/Issue: 2012/89

Series: IMF Working Papers

Author(s): Oya Celasun , Lev Ratnovski , and Roxana Mihet

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

DOI: http://dx.doi.org/10.5089/9781475502633.001

ISBN: 9781475502633

Keywords: inflation rate, aggregate demand, treasury bonds, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation,

U.S. monetary policy can remain extraordinarily accommodative only if longer-term inflation expectations stay well-anchored, including in response to commodity price shocks. We find that oil price shocks have a sta...

Perspectiveson Low Global Interest Rates

Perspectiveson Low Global Interest Rates »

Volume/Issue: 2006/76

Series: IMF Working Papers

Author(s): Luis Catão , and George Mackenzie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451863369.001

ISBN: 9781451863369

Keywords: World interest rates, global saving, bond, inflation, real interest rates, real interest rate, bonds, International Finance: General,

This paper looks at the dramatic decline in global real interest rates in recent years from a historical perspective and examines the various factors that may account for this trend. We show that current levels of...

Estimating and Interpreting Forward Interest Rates
			: Sweden 1992-1994

Estimating and Interpreting Forward Interest Rates : Sweden 1992-1994 »

Volume/Issue: 1994/114

Series: IMF Working Papers

Author(s): Lars Svensson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1994

DOI: http://dx.doi.org/10.5089/9781451853759.001

ISBN: 9781451853759

Keywords: inflation, bond, bonds, monetary policy, coupon bonds

The use of forward interest rates as a monetary policy indicator is demonstrated, using Sweden 1992-1994 as an example. The forward rates are interpreted as indicating market expectations of the time-path of future...

How to Evaluate GDP-Linked Warrants
			: Price and Repayment Capacity

How to Evaluate GDP-Linked Warrants : Price and Repayment Capacity »

Volume/Issue: 2006/85

Series: IMF Working Papers

Author(s): Ken Miyajima

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451863451.001

ISBN: 9781451863451

Keywords: GDP-linked bonds, Monte Carlo methods, binomial model, inflation, growth rates, real gdp, inflation rates, gdp growth,

Following a brief review of the recent history of GDP-linked instruments, this paper proposes a set of tools to examine the quantitative properties of GDP-linked warrants. It argues that trigger conditions should b...

Policy Credibility and Sovereign Credit
			: The Case of New EU Member States

Policy Credibility and Sovereign Credit : The Case of New EU Member States »

Volume/Issue: 2007/1

Series: IMF Working Papers

Author(s): Manmohan Kumar , Jirí Jonáš , and David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

DOI: http://dx.doi.org/10.5089/9781451865653.001

ISBN: 9781451865653

Keywords: Policy credibility, credit spreads, sovereign ratings, new EU member states, foreign currency, inflation, bond, bonds, real interest rate, Eu New Member States

References to policy credibility, particularly with regard to fiscal policy, are ubiquitous in both economic literature and financial markets, even though it is not directly observable. The case of the EU new membe...