Impact of budget deficits on ex post real long-term interest rates
AbstractThe study investigates the impact of budget deficits on ex post real long-term interest rates over the 1973-1995 period, thereby addressing an interest rate measure and time period, i.e. beyond the mid-to late-1980s, that have received only limited attention in the literature. The instrumented variables (IV) estimate provides strong evidence that budget deficits do raise the long-term real ex post rate of interest.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 7 (2000)
Issue (Month): 3 ()
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- Jérôme Creel & Bruno Ducoudré & Catherine Mathieu & Henri Sterdyniak, 2005.
"Doit-on oublier la politique budgétaire ?. Une analyse critique de la nouvelle théorie anti-keynésienne des finances publiques,"
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- Catherine Mathieu & Jérôme Creel & Henri Sterdyniak & Bruno Ducoudre, 2005. "Doit-on oublier la politique budgétaire? Une analyse critique de la nouvelle théorie anti-keynésienne des finances publiques," Sciences Po publications info:hdl:2441/1769, Sciences Po.
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- Tigran Poghosyan, 2012. "Long-Run and Short-Run Determinants of Sovereign Bond Yields in Advanced Economies," IMF Working Papers 12/271, International Monetary Fund.
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