IDEAS home Printed from https://ideas.repec.org/a/cii/cepiei/2007-4tb.html
   My bibliography  Save this article

La demande de titres longs par les non-residents explique-t-elle le bas niveau des taux longs publics americains ?

Author

Listed:
  • Bruno Ducoudre

Abstract

Le taux d’interet a dix ans sur les obligations du Tresor americain reste stable entre le troisieme trimestre 2004 et le troisieme trimestre 2005. Dans le meme temps, la Reserve Federale amorce une periode de hausse du taux des fonds federaux des la fin juin 2004. Le taux long a donc ete souvent juge trop bas. Des simulations dynamiques sont entreprises pour mesurer si son bas niveau est anormal compte tenu de l’evolution des anticipations des agents. Le taux long est ainsi inferieur de 0,5 a 0,9 point a son niveau predit par les simulations. La hausse de la demande de titres longs par l’etranger permet d’expliquer une partie de cet ecart.

Suggested Citation

  • Bruno Ducoudre, 2007. "La demande de titres longs par les non-residents explique-t-elle le bas niveau des taux longs publics americains ?," Economie Internationale, CEPII research center, issue 112, pages 29-49.
  • Handle: RePEc:cii:cepiei:2007-4tb
    as

    Download full text from publisher

    File URL: http://www.cepii.fr/IE/rev112/rev112b.htm
    Download Restriction: no

    More about this item

    Keywords

    Structure par terme des taux d’interet; choix de portefeuille; accumulation d’actifs financiers;

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cii:cepiei:2007-4tb. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/cepiifr.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.