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.
"Are Government Bonds Net Wealth?,"
3451399, Harvard University Department of Economics.
- 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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- Feldstein, Martin, 1982.
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Journal of Monetary Economics,
Elsevier, vol. 9(1), pages 1-20.
- 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.
- Aschauer, David Alan, 1985. "Fiscal Policy and Aggregate Demand," American Economic Review, American Economic Association, vol. 75(1), pages 117-27, March.
- Remolona, Eli H., 1985. "Financing the Budget Deficit in the Philippines," Working Papers WP 1985-02, Philippine Institute for Development Studies.
- Plosser, Charles I., 1982. "Government financing decisions and asset returns," Journal of Monetary Economics, Elsevier, vol. 9(3), pages 325-352.
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