Fiscal Implications of Interest Rate Normalization in the United States /
This paper studies the main channels through which interest rate normalization has fiscal implications in the United States. While unexpected inflation reduces the real value of government liabilities, a rising policy rate increases government financing needs because of higher interest payments and...
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| Other Authors: | , |
| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2019.
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| Series: | IMF Working Papers; Working Paper ;
No. 2019/090 |
| Online Access: | Full text available on IMF |