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Financing the Budget Deficit in a Small Open Economy: The Case of the Philippines, 1981-1986

  • Gochoco, Maria Socorro H.
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    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.

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    Paper provided by Philippine Institute for Development Studies in its series Working Papers with number WP 1988-10.

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    Length: 72
    Date of creation: 1988
    Date of revision:
    Handle: RePEc:phd:wpaper:wp_1988-10
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    1. 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..
    2. Remolona, Eli H., 1985. "Financing the Budget Deficit in the Philippines," Working Papers WP 1985-02, Philippine Institute for Development Studies.
    3. Plosser, Charles I., 1982. "Government financing decisions and asset returns," Journal of Monetary Economics, Elsevier, vol. 9(3), pages 325-352.
    4. Aschauer, David Alan, 1985. "Fiscal Policy and Aggregate Demand," American Economic Review, American Economic Association, vol. 75(1), pages 117-27, March.
    5. 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.
    6. 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.
    7. Martin Feldstein, 1980. "Government Deficits and Aggregate Demand," NBER Working Papers 0435, National Bureau of Economic Research, Inc.
    8. 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.
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