The Resource Factors Behind Low Long-Term Interest Rates, Rudiger Ahrend, Pietro Catte and Robert Price, (electronic resource)

Factors Behind Low Long-Term Interest Rates, Rudiger Ahrend, Pietro Catte and Robert Price, (electronic resource)

Label
Factors Behind Low Long-Term Interest Rates
Title
Factors Behind Low Long-Term Interest Rates
Statement of responsibility
Rudiger Ahrend, Pietro Catte and Robert Price
Creator
Contributor
Subject
Language
eng
Summary
Long-term bond yields have been low in recent years both in nominal and real terms, and . especially in the United States - they have reacted differently to shifts in monetary and fiscal stances relative to previous cycles. This article examines various possible explanations for this behaviour, such as the effects of changes in monetary policy frameworks on inflation and interest rate expectations; developments in ex ante saving-investment balances, and shifts in investors. portfolio preferences (including official reserve accumulation, .petro-dollar. recycling and pension fund demand for longer maturities). The paper finds that it is unlikely that any individual explanation can account for the level and profile of bond yields in recent years, but that an important element has been a compression in term premia, together with shifts in expected short rates. Even though bond yields have started to rise in the early part of 2006, they are unlikely to go back to the levels that prevailed in the 1980s or the early 1990s, as several of the factors that drove them lower are set to persist
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Ahrend, Rudiger
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Catte, Pietro
  • Price, Robert
Series statement
OECD Economics Department Working Papers,
Series volume
no.490
http://library.link/vocab/subjectName
Economics
Label
Factors Behind Low Long-Term Interest Rates, Rudiger Ahrend, Pietro Catte and Robert Price, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762091775
Dimensions
21 x 30 cm
Extent
1 online resource 47 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/761527811285
Specific material designation
remote
System control number
(OCoLC)762091775
Label
Factors Behind Low Long-Term Interest Rates, Rudiger Ahrend, Pietro Catte and Robert Price, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762091775
Dimensions
21 x 30 cm
Extent
1 online resource 47 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/761527811285
Specific material designation
remote
System control number
(OCoLC)762091775

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