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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- Barro, Robert J, 1974.
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- 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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- Aschauer, David Alan, 1985. "Fiscal Policy and Aggregate Demand," American Economic Review, American Economic Association, vol. 75(1), pages 117-27, March.
- 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.
- 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.
- Martin Feldstein, 1980.
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0435, National Bureau of Economic Research, Inc.
- 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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