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, 2003.
"The Impact of the Federal Budget Deficit on the Nominal Interest Rate Yield on US Treasury Notes, 1979-2001,"
49400, University Library of Munich, Germany.
- Richard J Cebula, 2004. "The Impact of the Federal Budget Deficit on the Nominal Interest Rate Yield on U.S. Treasury Notes, 1979-2001," The IUP Journal of Applied Economics, IUP Publications, vol. 0(2), pages 7-18, March.
- Cebula, Richard, 1997.
"An Empirical Analysis of the Impact of Federal Budget Deficits on Long-term Nominal Interest Rate Yields, 1973.2-1995.4, Using Alternative Expected Inflation Measures,"
50976, University Library of Munich, Germany.
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- Cebula, Richard & McGrath, Richard, 2006. "Identifying Determinants of the Cost of Long Term Borrowing for U.S. Firms: Insights for Management," MPRA Paper 49647, University Library of Munich, Germany.
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- Cebula, Richard, 1996. "The Impact of Net International Capital Inflows on Nominal Long-Term Interest Rates in France," MPRA Paper 49401, University Library of Munich, Germany, revised 26 Jun 1996.
- Y Hsing, 2004. "Impacts of Dollar Depreciation and Low Deposit Rates on the US Economy," Economic Issues Journal Articles, Economic Issues, vol. 9(1), pages 1-14, March.
- Richard J. Cebula, 2002.
"A contemporary investigation of causality between the primary government budget deficit and the ex ante real long term interest rate in the US,"
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- Richard J. Cebula, 2002. "A contemporary investigation of causality between the primary government budget deficit and the ex ante real long term interest rate in the US," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 55(223), pages 417-435.
- Cebula, Richard, 1996. "An Empirical Note on the Impact of the Federal Budget Deficit on Ex Ante Real Long-Term, Interest Rates, 1973-1995," MPRA Paper 51414, University Library of Munich, Germany.
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