Financing the Budget Deficit in a Small Open Economy: The Case of the Philippines, 1981-1986
This paper determines whether or not there is a rule for financing public debt that the public can discern. Specifically, it determines the nature of the “crowding out” effect. It then empirically investigates its impact on the nominal and real interest rates.
|Date of creation:||1988|
|Date of revision:|
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Web page: http://www.pids.gov.ph/
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- Plosser, Charles I., 1982. "Government financing decisions and asset returns," Journal of Monetary Economics, Elsevier, vol. 9(3), pages 325-352.
- Aschauer, David Alan, 1985. "Fiscal Policy and Aggregate Demand," American Economic Review, American Economic Association, vol. 75(1), pages 117-27, March.
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"Are Government Bonds Net Wealth?,"
3451399, Harvard University Department of Economics.
- Tanner, J Ernest, 1970. "Empirical Evidence on the Short-Run Real Balance Effect in Canada," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 2(4), pages 473-85, November.
- Martin Feldstein, 1980.
"Government Deficits and Aggregate Demand,"
NBER Working Papers
0435, National Bureau of Economic Research, Inc.
- Kormendi, Roger C, 1983. "Government Debt, Government Spending, and Private Sector Behavior," American Economic Review, American Economic Association, vol. 73(5), pages 994-1010, December.
- Kochin, Levis A, 1974. "Are Future Taxes Anticipated by Consumers? Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 6(3), pages 385-94, August.
- Remolona, Eli H., 1985. "Financing the Budget Deficit in the Philippines," Working Papers WP 1985-02, Philippine Institute for Development Studies.
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