Debt, Deficits, and Interest Rates
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Arvind Krishnamurthy & Annette Vissing-Jorgensen, 2012.
"The Aggregate Demand for Treasury Debt,"
Journal of Political Economy, University of Chicago Press, vol. 120(2), pages 233-267.
- Annette Vissing-Jorgensen & Arvind Krishnamurthy, 2008. "The Aggregate Demand for Treasury Debt," 2008 Meeting Papers 713, Society for Economic Dynamics.
- Kitchen, John, 2002. "A Note on Interest Rates and Structural Federal Budget Deficits," MPRA Paper 21069, University Library of Munich, Germany, revised Oct 2002.
- Robert J. Barro & Xavier Sala-i-Martin, 1990.
"World Real Interest Rates,"
NBER Chapters, in: NBER Macroeconomics Annual 1990, Volume 5, pages 15-74,
National Bureau of Economic Research, Inc.
- Robert J. Barro & Xavier Sala-i-Martin, 1990. "World Real Interest Rates," NBER Working Papers 3317, National Bureau of Economic Research, Inc.
- Barro, R.J. & Martin, X.S., 1990. "World Real Interest Rates," RCER Working Papers 227, University of Rochester - Center for Economic Research (RCER).
- Barro, Robert J, 1974.
"Are Government Bonds Net Wealth?,"
Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
- Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
- Kuttner, Kenneth N., 2001.
"Monetary policy surprises and interest rates: Evidence from the Fed funds futures market,"
Journal of Monetary Economics, Elsevier, vol. 47(3), pages 523-544, June.
- Kenneth N. Kuttner, 2000. "Monetary policy surprises and interest rates: evidence from the Fed funds futures markets," Staff Reports 99, Federal Reserve Bank of New York.
- Robin Greenwood & Dimitri Vayanos, 2014.
"Bond Supply and Excess Bond Returns,"
Review of Financial Studies, Society for Financial Studies, vol. 27(3), pages 663-713.
- Vayanos, Dimitri & Greenwood, Robin, 2008. "Bond Supply and Excess Bond Returns," CEPR Discussion Papers 6694, C.E.P.R. Discussion Papers.
- Greenwood, Robin & Vayanos, Dimitri, 2008. "Bond supply and excess bond returns," LSE Research Online Documents on Economics 24425, London School of Economics and Political Science, LSE Library.
- Dimitri Vayanos & Robin Greenwood, 2008. "Bond Supply and Excess Bond Returns," FMG Discussion Papers dp607, Financial Markets Group.
- Robin Greenwood & Dimitri Vayanos, 2008. "Bond Supply and Excess Bond Returns," NBER Working Papers 13806, National Bureau of Economic Research, Inc.
- Refet S. Gürkaynak & Brian Sack & Eric Swanson, 2005. "The Sensitivity of Long-Term Interest Rates to Economic News: Evidence and Implications for Macroeconomic Models," American Economic Review, American Economic Association, vol. 95(1), pages 425-436, March.
- Thomas Laubach, 2009.
"New Evidence on the Interest Rate Effects of Budget Deficits and Debt,"
Journal of the European Economic Association, MIT Press, vol. 7(4), pages 858-885, June.
- Thomas Laubach, 2003. "New evidence on the interest rate effects of budget deficits and debt," Finance and Economics Discussion Series 2003-12, Board of Governors of the Federal Reserve System (U.S.).
- Thorbecke, Willem, 1993. "Why deficit news affects interest rates," Journal of Policy Modeling, Elsevier, vol. 15(1), pages 1-11, February.
- Elmendorf, D.W., 1993. "Actual Budget Deficit Expectations and Interest Rates," Harvard Institute of Economic Research Working Papers 1639, Harvard - Institute of Economic Research.
- Wachtel, Paul & Young, John, 1987. "Deficit Announcements and Interest Rates," American Economic Review, American Economic Association, vol. 77(5), pages 1007-1012, December.
- Cebula, Richard & Koch, James, 1988. "An Empirical Note on Deficits, Interest Rates, and International Capital Flows," MPRA Paper 50165, University Library of Munich, Germany.
- Refet S. Gürkaynak & Brian Sack & Jonathan H. Wright, 2010.
"The TIPS Yield Curve and Inflation Compensation,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 2(1), pages 70-92, January.
- Refet S. Gürkaynak & Brian P. Sack & Jonathan H. Wright, 2008. "The TIPS yield curve and inflation compensation," Finance and Economics Discussion Series 2008-05, Board of Governors of the Federal Reserve System (U.S.).
- Eric M. Engen & R. Glenn Hubbard, 2005.
"Federal Government Debt and Interest Rates,"
NBER Chapters, in: NBER Macroeconomics Annual 2004, Volume 19, pages 83-160,
National Bureau of Economic Research, Inc.
- Eric M. Engen & R. Glenn Hubbard, 2004. "Federal Government Debt and Interest Rates," NBER Working Papers 10681, National Bureau of Economic Research, Inc.
- R. Glenn Hubbard & Eric M. Engen, 2004. "Federal Government Debt and Interest Rates," AEI Economics Working Papers 50018, American Enterprise Institute.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Carlos David Ardila-Dueñas & Hernán Rincón-Castro, 2019. "¿Cómo y qué tanto impacta la deuda pública a las tasas de interés de mercado?," Borradores de Economia 1077, Banco de la Republica de Colombia.
- Eric M. Engen & R. Glenn Hubbard, 2005.
"Federal Government Debt and Interest Rates,"
NBER Chapters, in: NBER Macroeconomics Annual 2004, Volume 19, pages 83-160,
National Bureau of Economic Research, Inc.
- Eric M. Engen & R. Glenn Hubbard, 2004. "Federal Government Debt and Interest Rates," NBER Working Papers 10681, National Bureau of Economic Research, Inc.
- Poghosyan, Tigran, 2014.
"Long-run and short-run determinants of sovereign bond yields in advanced economies,"
Economic Systems, Elsevier, vol. 38(1), pages 100-114.
- Mr. Tigran Poghosyan, 2012. "Long-Run and Short-Run Determinants of Sovereign Bond Yields in Advanced Economies," IMF Working Papers 2012/271, International Monetary Fund.
- Kameda, Keigo, 2014. "Budget deficits, government debt, and long-term interest rates in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 32(C), pages 105-124.
- Ardagna Silvia & Caselli Francesco & Lane Timothy, 2007.
"Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries,"
The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-35, August.
- Silvia Ardagna & Francesco Caselli & Timothy Lane, 2004. "Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries," NBER Working Papers 10788, National Bureau of Economic Research, Inc.
- Silvia Ardagna & Francesco Caselli & Timothy Lane, 2005. "Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries," CEP Discussion Papers dp0670, Centre for Economic Performance, LSE.
- Ardagna, Silvia & Lane, Timothy & Caselli, Francesco, 2007. "Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries," Scholarly Articles 2579739, Harvard University Department of Economics.
- Lane, Timothy & Caselli, Francesco & Ardagna, Silvia, 2004. "Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries," CEPR Discussion Papers 4661, C.E.P.R. Discussion Papers.
- Challe, Edouard & Le Grand, François & Ragot, Xavier, 2013.
"Incomplete markets, liquidation risk, and the term structure of interest rates,"
Journal of Economic Theory, Elsevier, vol. 148(6), pages 2483-2519.
- Edouard Challe & François Le Grand & Xavier Ragot, 2007. "Incomplete markets, liquidation risk and the term structure of interest rates," PSE Working Papers halshs-00587679, HAL.
- Edouard Challe & François Le Grand & Xavier Ragot, 2013. "Incomplete markets, liquidation risk, and the term structure of interest rates," PSE-Ecole d'économie de Paris (Postprint) halshs-00944920, HAL.
- Edouard Challe & François Le Grand & Xavier Ragot, 2013. "Incomplete markets, liquidation risk, and the term structure of interest rates," Post-Print halshs-00944920, HAL.
- Edouard Challe & François Le Grand & Xavier Ragot, 2013. "Incomplete markets, liquidation risk, and the term structure of interest rates," PSE - Labex "OSE-Ouvrir la Science Economique" halshs-00944920, HAL.
- Edouard Challe & François Le Grand & Xavier Ragot, 2013. "Incomplete markets, liquidation risk, and the term structure of interest rates," Working Papers hal-00843147, HAL.
- Edouard Challe & François Le Grand & Xavier Ragot, 2007. "Incomplete markets, liquidation risk and the term structure of interest rates," Working Papers halshs-00587679, HAL.
- Edouard Challe & François Le Grand & Xavier Ragot, 2013. "Incomplete markets, liquidation risk, and the term structure of interest rates," PSE Working Papers hal-00843147, HAL.
- Challe, E. & Le Grand, F. & Ragot, X., 2010. "Incomplete markets, liquidation risk, and the term structure of interest rates," Working papers 301, Banque de France.
- Edouard Challe & François Le Grand & Xavier Ragot, 2013. "Incomplete markets, liquidation risk, and the term structure of interest rates," Post-Print hal-02313134, HAL.
- repec:hal:spmain:info:hdl:2441/5221 is not listed on IDEAS
- Bruno Ducoudre, 2008. "Structure par terme des taux d’intérêt et anticipations de la politique économique," Sciences Po publications info:hdl:2441/5221, Sciences Po.
- Ernest Dautovic, 2017. "The effect of real-time fiscal policy on sovereign interest rates in OECD countries," International Economics and Economic Policy, Springer, vol. 14(1), pages 167-185, January.
- Sinha, Arunima, 2015. "Government debt, learning and the term structure," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 268-289.
- Hanson, Samuel G. & Stein, Jeremy C., 2015.
"Monetary policy and long-term real rates,"
Journal of Financial Economics, Elsevier, vol. 115(3), pages 429-448.
- Samuel Hanson & Jeremy C. Stein, 2012. "Monetary policy and long-term real rates," Finance and Economics Discussion Series 2012-46, Board of Governors of the Federal Reserve System (U.S.).
- Goliński, Adam, 2021. "Monetary policy at the zero lower bound: Information in the Federal Reserve’s balance sheet," European Economic Review, Elsevier, vol. 131(C).
- Gale, William G., 2019. "Fiscal policy with high debt and low interest rates," MPRA Paper 99207, University Library of Munich, Germany.
- Andras Lengyel, 2022. "Treasury Supply Shocks and the Term Structure of Interest Rates in the UK," MNB Working Papers 2022/6, Magyar Nemzeti Bank (Central Bank of Hungary).
- Kevin L. Kliesen & Frank A. Schmid, 2004. "Do productivity growth, budget deficits, and monetary policy actions affect real interest rates? evidence from macroeconomic announcement data," Working Papers 2004-019, Federal Reserve Bank of St. Louis.
- Caravaggio, Nicola & Carnazza, Giovanni, 2022. "The Italian nominal interest rate conundrum: A problem of growth or public finance?," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 313-326.
- António Afonso, 2007.
"An Avenue for Expansionary Fiscal Contractions,"
The IUP Journal of Public Finance, IUP Publications, vol. 0(3), pages 7-15, August.
- Afonso, António, 2007. "An avenue for expansionary fiscal contractions," MPRA Paper 4593, University Library of Munich, Germany.
- Andrej Sokol & Michael Kumhof & Marco Pinchetti & Phurichai Rungcharoenkitkul, 2023.
"CBDC policies in open economies,"
BIS Working Papers
1086, Bank for International Settlements.
- Michael Kumhof & Marco Pinchetti & Phurichai Rungcharoenkitkul & Andrej Sokol, 2023. "CBDC Policies in Open Economies," Discussion Papers 2309, Centre for Macroeconomics (CFM).
- Kumhof, Michael & Pinchetti, Marco & Rungcharoenkitkul, Phurichai & Sokol, Andrej, 2023. "CBDC Policies in Open Economies," CEPR Discussion Papers 17982, C.E.P.R. Discussion Papers.
- Michael Kumhof & Marco Pinchetti & Phurichai Rungcharoenkitkul & Andrej Sokol, 2023. "CBDC Policies in Open Economies," PIER Discussion Papers 205, Puey Ungphakorn Institute for Economic Research.
- Ant Afonso & Christophe Rault, 2015.
"Short- and long-run behaviour of long-term sovereign bond yields,"
Applied Economics, Taylor & Francis Journals, vol. 47(37), pages 3971-3993, August.
- António Afonso & Christophe Rault, 2010. "Short and Long-run Behaviour of Long-term Sovereign Bond Yields," CESifo Working Paper Series 3249, CESifo.
- António Afonso & Christophe Rault, 2010. "Short and Long-run Behaviour of Long-term Sovereign Bond Yields," Working Papers Department of Economics 2010/19, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
- Benjamin M. Friedman, 2005. "Deficits and Debt in the Short and Long Run," NBER Working Papers 11630, National Bureau of Economic Research, Inc.
- Francis E. Warnock & Veronica C. Warnock, 2005.
"International Capital Flows and U.S. Interest Rates,"
The Institute for International Integration Studies Discussion Paper Series
iiisdp103, IIIS.
- Francis E. Warnock & Veronica Cacdac Warnock, 2006. "International Capital Flows and U.S. Interest Rates," NBER Working Papers 12560, National Bureau of Economic Research, Inc.
- Francis E. Warnock & Veronica C. Warnock, 2005. "International capital flows and U.S. interest rates," International Finance Discussion Papers 840, Board of Governors of the Federal Reserve System (U.S.).
More about this item
Keywords
debt; interest rates; deficit; Ricardian equivalence;All these keywords.
JEL classification:
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MAC-2022-01-03 (Macroeconomics)
Statistics
Access and download statisticsCorrections
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:fip:fedbcq:93543. See general information about how to correct material in RePEc.
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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Spozio (email available below). General contact details of provider: https://edirc.repec.org/data/frbbous.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.