Rising long-term interest rates: Is the European bond market overshooting?
Analyse approfondie
15-05-2017
We find a wide range of effects from rising interest rates, mostly small and mostly negative, focused on investment spending, debt service costs and shrinking fiscal space. The recommendation for the ECB is not to react till the emerging European recovery is on a firmer basis. There is also the worry that rising/overshooting interest often reflect the fact that inflation risks are unequally distributed: larger in some places, but offset by their absence elsewhere. That is a matter for domestic policy, not ECB policy.
Analyse approfondie
Auteur externe
Andrew HUGHES HALLETT (Department of Economics, Copenhagen Business School)
À propos de ce document
Type de publication
Mot-clé
- Amérique
- analyse économique
- analyse économique
- comptabilité nationale
- coût du crédit
- euro-émission
- Europe
- financement
- FINANCES
- GÉOGRAPHIE
- géographie politique
- géographie économique
- institutions financières et crédit
- intérêt
- investissement et financement
- libre circulation des capitaux
- relations monétaires
- risque financier
- Royaume-Uni
- zone euro
- ÉCONOMIE
- économie monétaire
- épargne
- État membre UE
- États-Unis