Do Federal Deficits Really Matter?
AbstractThis paper reviews competing views regarding interest rates and other economic effects of federal deficits. It discusses the findings of several empirical studies that have analyzed these relationships. The main points ofthe paper are that: (a) the con-cept of the deficit is ambiguous because not all deficits have the same economic effects, and (b) by slightly modifying existing studies, one is able to produce empirical evidence showing that deficits or debt do indeed raise interest rates and otherwise affect economic activity in ways consistent with the conven-tional view. Copyright 1984 Western Economic Association International.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Contemporary Economic Policy.
Volume (Year): 3 (1984)
Issue (Month): 1 (09)
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- Cebula, Richard, 1996.
"The Impact of Net International Capital Inflows on Nominal Long-Term Interest Rates in France,"
49401, University Library of Munich, Germany, revised 26 Jun 1996.
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- Cebula, Richard & Scott, Gerald, 1990. "Deficits and Real Interest Rates: A Note Extending the Hoelscher Model," MPRA Paper 54608, University Library of Munich, Germany.
- Cebula, Richard & Koch, James, 1988. "An Empirical Note on Deficits, Interest Rates, and International Capital Flows," MPRA Paper 50165, University Library of Munich, Germany.
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