Artigo Revisado por pares

Interest Rates and Expected Future Budget Deficits in the United States

1987; University of Chicago Press; Volume: 95; Issue: 1 Linguagem: Inglês

10.1086/261440

ISSN

1537-534X

Autores

Paul Evans,

Tópico(s)

Banking stability, regulation, efficiency

Resumo

Previous articleNext article No AccessInterest Rates and Expected Future Budget Deficits in the United StatesPaul EvansPaul EvansPDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Journal of Political Economy Volume 95, Number 1Feb., 1987 Article DOIhttps://doi.org/10.1086/261440 Views: 18Total views on this site Citations: 157Citations are reported from Crossref Copyright 1987 The University of ChicagoPDF download Crossref reports the following articles citing this article:Daniel Murphy, Kieran James Walsh Government spending and interest rates, Journal of International Money and Finance 123 (May 2022): 102598.https://doi.org/10.1016/j.jimonfin.2022.102598Huan Yan, Weiguo Xiao, Qi Deng, Sisi Xiong, Ahmed Farouk How Does Fiscal Policy Affect Bank Credit? Evidence from China, Discrete Dynamics in Nature and Society 2021 (Dec 2021): 1–8.https://doi.org/10.1155/2021/6790245Usman W. Chohan Modern Monetary Theory (MMT): A General Introduction, SSRN Electronic Journal (Jan 2020).https://doi.org/10.2139/ssrn.3569416Pierre Gruson La soutenabilité de la dette publique française 2017-2027 et la hausse des taux d'intérêt, Revue d'économie financière N° 129, no.11 (Jun 2018): 299–318.https://doi.org/10.3917/ecofi.129.0299Yifeng Yan, Ju'e Guo The Sovereign Yield Curve and Fiscal Behaviour in China, Pacific Economic Review 23, no.22 (May 2016): 271–295.https://doi.org/10.1111/1468-0106.12159Ernest Dautovic The effect of real-time fiscal policy on sovereign interest rates in OECD countries, International Economics and Economic Policy 14, no.11 (Dec 2015): 167–185.https://doi.org/10.1007/s10368-015-0334-yMatthieu Lemoine, Jesper Lindé Fiscal consolidation under imperfect credibility, European Economic Review 88 (Sep 2016): 108–141.https://doi.org/10.1016/j.euroecorev.2016.04.008Ernest Dautovic The Effect of Real-Time Fiscal Policy on Sovereign Interest Rates in OECD Countries, SSRN Electronic Journal (Jan 2016).https://doi.org/10.2139/ssrn.2763545Daniel Patrick Murphy, Kieran James Walsh Demand Shocks and Interest Rates, SSRN Electronic Journal (Jan 2015).https://doi.org/10.2139/ssrn.2634141Ryan D. Edwards U.S. war costs: Two parts temporary, one part permanent, Journal of Public Economics 113 (May 2014): 54–66.https://doi.org/10.1016/j.jpubeco.2014.03.008Tigran Poghosyan Long-run and short-run determinants of sovereign bond yields in advanced economies, Economic Systems 38, no.11 (Mar 2014): 100–114.https://doi.org/10.1016/j.ecosys.2013.07.008Daniel F. S. Choi, Mark J. Holmes Budget deficits and real interest rates: a regime-switching reflection on Ricardian Equivalence, Journal of Economics and Finance 38, no.11 (Nov 2011): 71–83.https://doi.org/10.1007/s12197-011-9212-9Ari Aisen, David Hauner Budget deficits and interest rates: a fresh perspective, Applied Economics 45, no.1717 (Jun 2013): 2501–2510.https://doi.org/10.1080/00036846.2012.667557Ming-Hsiang Chen The Impact of Demand and Supply Shocks on US Hospitality Index Returns, Tourism Economics 19, no.22 (Apr 2013): 349–371.https://doi.org/10.5367/te.2013.0205Aaron Reeves, Sanjay Basu, Martin McKee, Christopher Meissner, David Stuckler Does investment in the health sector promote or inhibit economic growth?, Globalization and Health 9, no.11 (Jan 2013): 43.https://doi.org/10.1186/1744-8603-9-43Christos F. Stournaras Twin Deficits in Greece: Theory and Evidence from the Last Drachma Journey, SSRN Electronic Journal (Jan 2013).https://doi.org/10.2139/ssrn.2205047Fatih Kaya Determinants of Real Long-Term Interest Rates in Europe: 'Is it a Fiscal Phenomenon?', SSRN Electronic Journal (Jan 2013).https://doi.org/10.2139/ssrn.2330298Tigran Poghosyan, Long-Run and Short-Run Determinants of Sovereign Bond Yields in Advanced Economies, IMF Working Papers 12, no.271271 (Jan 2012): 1.https://doi.org/10.5089/9781475529142.001David Hauner, Manmohan S. Kumar Interest rates and budget deficits revisited–evidence from the G7 countries, Applied Economics 43, no.1212 (May 2011): 1463–1475.https://doi.org/10.1080/00036840802600574 Christopher J. Erceg and Jesper Lindé Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs, NBER International Seminar on Macroeconomics 7, no.11 (May 2021): 95–136.https://doi.org/10.1086/658304Christopher J. Erceg, Jesper Linde Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs, SSRN Electronic Journal (Jan 2011).https://doi.org/10.2139/ssrn.1769934Magda Kandil Demand-side stabilization policies: What is the evidence of their potential?, Journal of Economics and Business 61, no.33 (May 2009): 261–276.https://doi.org/10.1016/j.jeconbus.2008.07.001Nikiforos T. Laopodis Fiscal policy and stock market efficiency: Evidence for the United States, The Quarterly Review of Economics and Finance 49, no.22 (May 2009): 633–650.https://doi.org/10.1016/j.qref.2007.10.004Peter Claeys Budgetary spillovers and long-term interest rates, (Jan 2008): 55–106.https://doi.org/10.1007/978-3-7908-1970-0_3Bruno Ducoudre Term Structure of Interest Rates and Expectations of Economic Policy (Structure Par Terme Des Taux D'Interet Et Anticipations De La Politique Economique), SSRN Electronic Journal (Jan 2008).https://doi.org/10.2139/ssrn.1133929Ari Aisen, , David Hauner, Budget Deficits and Interest Rates: A Fresh Perspective, IMF Working Papers 08, no.4242 (Jan 2008): 1.https://doi.org/10.5089/9781451869040.001Manoel Carlos de Castro Pires Uma análise da proposta de déficit nominal zero, Brazilian Journal of Political Economy 27, no.44 (Dec 2007): 651–663.https://doi.org/10.1590/S0101-31572007000400009Ahmad Zubaidi Baharumshah, Evan Lau Dynamics of fiscal and current account deficits in Thailand: an empirical investigation, Journal of Economic Studies 34, no.66 (Nov 2007): 454–475.https://doi.org/10.1108/01443580710830943Laurence Booth, George Georgopoulos, Walid Hejazi What drives provincial-Canada yield spreads?, Canadian Journal of Economics/Revue canadienne d'économique 40, no.33 (Jul 2007): 1008–1032.https://doi.org/10.1111/j.1365-2966.2007.00440.xAri Aisen, David Hauner Budget Deficits and Interest Rates: A Fresh Perspective, SSRN Electronic Journal (Jan 2007).https://doi.org/10.2139/ssrn.1028674Menzie David Chinn, Jeffrey A. Frankel Debt and Interest Rates: The U.S. and the Euro Area, SSRN Electronic Journal (Jan 2007).https://doi.org/10.2139/ssrn.1716351Magda Kandil The growth of government spending and the money supply, Journal of Economic Studies 33, no.66 (Nov 2006): 406–436.https://doi.org/10.1108/01443580610710398Aldo Barba THE EBB AND FLOW OF FISCAL ACTIVISM†, Contributions to Political Economy 25, no.11 (Mar 2006): 91–111.https://doi.org/10.1093/cpe/bzl002R. Faini Fiscal policy and interest rates in Europe, Economic Policy 21, no.4747 (Jul 2006): 444–489.https://doi.org/10.1111/j.1468-0327.2006.00163.xAllen Sinai Deficits, expected deficits, financial markets, and the economy, The North American Journal of Economics and Finance 17, no.11 (Mar 2006): 79–101.https://doi.org/10.1016/j.najef.2005.05.001 International Monetary Fund Jamaica: Selected Issues, IMF Staff Country Reports 06, no.157157 (Jan 2006): 1.https://doi.org/10.5089/9781451820171.002Goohoon Kwon, , Lavern McFarlane, , Wayne Robinson, Public Debt, Money Supply, and Inflation: A Cross-Country Study and its Application to Jamaica, IMF Working Papers 06, no.121121 (Jan 2006): 1.https://doi.org/10.5089/9781451863819.001Garima Vasishtha, , Taimur Baig, , Manmohan Kumar, , Edda Zoli, Fiscal and Monetary Nexus in Emerging Market Economies: How Does Debt Matter?, IMF Working Papers 06, no.184184 (Jan 2006): 1.https://doi.org/10.5089/9781451864441.001ALI SALMAN SALEH, CHARLES HARVIE THE BUDGET DEFICIT AND ECONOMIC PERFORMANCE: A SURVEY, The Singapore Economic Review 50, no.0202 (Oct 2005): 211–243.https://doi.org/10.1142/S0217590805001986Edda Zoli How does Fiscal Policy Affect Monetary Policy in Emerging Market Countries?, SSRN Electronic Journal (Jan 2005).https://doi.org/10.2139/ssrn.757632Bruno Ducoudre Fiscal Policy and Interest Rates, SSRN Electronic Journal (Jan 2005).https://doi.org/10.2139/ssrn.799709Woon Gyu Choi, , Michael B. Devereux, Asymmetric Effects of Government Spending: Does the Level of Real Interest Rates Matter?, IMF Working Papers 05, no.77 (Jan 2005): 1.https://doi.org/10.5089/9781451860269.001Michael Byron Satisficing and Maximizing, 93 (Dec 2009).https://doi.org/10.1017/CBO9780511617058Oludele Akinloye Akinboade 1 The relationship between budget deficit and interest rates in South Africa: some econometric results, Development Southern Africa 21, no.22 (Oct 2010): 289–302.https://doi.org/10.1080/0376835042000219550Thomas Laubach The Effects of Budget Deficits on Interest Rates: A Review of Empirical Results, SSRN Electronic Journal (Jan 2004).https://doi.org/10.2139/ssrn.2040791Riccardo Faini Fiscal Policy and Interest Rates in Europe, SSRN Electronic Journal (Jan 2004).https://doi.org/10.2139/ssrn.2040815Roberto Perotti Estimating the Effects of Fiscal Policy in OECD Countries, SSRN Electronic Journal (Jan 2004).https://doi.org/10.2139/ssrn.637189Richard Cebula Budget deficits and real interest rates: Updated empirical evidence on causality, Atlantic Economic Journal 31, no.33 (Sep 2003): 255–265.https://doi.org/10.1007/BF02298819Thomas Laubach New Evidence on the Interest Rate Effects of Budget Deficits and Debt, SSRN Electronic Journal (Jan 2003).https://doi.org/10.2139/ssrn.402083Dominique Küttel, Peter Kugler Explaining yield spreads of Swiss canton bonds: An empirical investigation, Financial Markets and Portfolio Management 16, no.22 (Jun 2002): 208–218.https://doi.org/10.1007/s11408-002-0204-9ALI F. DARRAT ON BUDGET DEFICITS AND INTEREST RATES: ANOTHER LOOK AT THE EVIDENCE *, International Economic Journal 16, no.22 (Jun 2002): 19–29.https://doi.org/10.1080/10168730200080010Magda Kandil ASYMMETRY IN THE EFFECTS OF MONETARY AND GOVERNMENT SPENDING SHOCKS: CONTRASTING EVIDENCE AND IMPLICATIONS, Economic Inquiry 40, no.22 (Apr 2002): 288–313.https://doi.org/10.1093/ei/40.2.288Charles W. Calomiris and Kevin A. Hassett Marginal Tax Rate Cuts and the Public Tax Debate, National Tax Journal 55, no.11 (Mar 2021): 119–131.https://doi.org/10.17310/ntj.2002.1.07Ali F. Darrat , International Economic Journal 16, no.22 ( 2002): 19.https://doi.org/10.1080/10168730200000010William G. Gale, Samara R. Potter An Economic Evaluation of the Economic Growth and Tax Relief Reconciliation Act of 2001, SSRN Electronic Journal (Jan 2002).https://doi.org/10.2139/ssrn.307040Michael J. Toma, Richard J. Cebula Politicians, deficits, and monetary policy in the U.S. revisited, International Advances in Economic Research 7, no.44 (Nov 2001): 419–430.https://doi.org/10.1007/BF02295771Nikiforos T. Laopodis Effects of government spending on private investment, Applied Economics 33, no.1212 (Oct 2010): 1563–1577.https://doi.org/10.1080/00036840010011934Magda Kandil Asymmetry in the effects of us government spending shocks: evidence and implications, The Quarterly Review of Economics and Finance 41, no.22 (Jun 2001): 137–165.https://doi.org/10.1016/S1062-9769(00)00066-1Adolfo Sachsida, Pedro Erik A. Carneiro Capital Stock, Savings and Public Debt: Are Brazilians Ricardians?, SSRN Electronic Journal (Jan 2001).https://doi.org/10.2139/ssrn.271814Ali F. Darrat Do Structural Federal Budget Deficits Impact Commercial Bank Interest Rates? A Comment, Public Finance Review 28, no.33 (Aug 2016): 187–194.https://doi.org/10.1177/109114210002800301Richard J. Cebula The Impact of Structural Budget Deficits on Commercial Bank Interest Rates: Reply, Public Finance Review 28, no.33 (Aug 2016): 195–198.https://doi.org/10.1177/109114210002800302Magda E. Kandil, Demand-Side Stabilization Policies: What is the Evidence of their Potential?, IMF Working Papers 00, no.197197 (Jan 2000): 1.https://doi.org/10.5089/9781451860009.001Michel Normandin Budget deficit persistence and the twin deficits hypothesis, Journal of International Economics 49, no.11 (Oct 1999): 171–193.https://doi.org/10.1016/S0022-1996(98)00058-0ERICK M. ELDER Investment effects of departures from governmental present-value budget balance, Applied Economics 31, no.1010 (Oct 1999): 1239–1247.https://doi.org/10.1080/000368499323454Mark Wheeler The macroeconomic impacts of government debt: An empirical analysis of the 1980s and 1990s, Atlantic Economic Journal 27, no.33 (Sep 1999): 273–284.https://doi.org/10.1007/BF02299578Kent Smetters Ricardian equivalence: long-run Leviathan, Journal of Public Economics 73, no.33 (Sep 1999): 395–421.https://doi.org/10.1016/S0047-2727(99)00011-0Douglas W. Elmendorf, N. Gregory Mankiw Chapter 25 Government debt, (Jan 1999): 1615–1669.https://doi.org/10.1016/S1574-0048(99)10038-7Nicholas Apergis Budget deficits and exchange rates: further evidence from cointegration and causality tests, Journal of Economic Studies 25, no.33 (Jun 1998): 161–178.https://doi.org/10.1108/01443589810215324Richard J. Cebula An empirical analysis of the impact of federal budget deficits on long-term nominal interest rate yields, 1973.2–1995.4, using alternative expected inflation measures, Review of Financial Economics 7, no.11 (Jan 1998): 55–64.https://doi.org/10.1016/S1058-3300(99)80145-1Marc C. Chopin Does the Maturity Mix of Government Borrowing Impact Municipal Bond Rates?, Studies in Economics and Finance 19, no.1/21/2 (Jan 1998): 3–26.https://doi.org/10.1108/eb028745Richard J. Cebula A Note on the impact of the United States federal budget deficit on the intermediate-term interest rate, 1960–94, Applied Economics Letters 4, no.1111 (Nov 1997): 711–714.https://doi.org/10.1080/758530655Robert Barro The Ricardian approach to budget deficits, (Dec 2009).https://doi.org/10.4324/9780203443965.ch13R. J. Cebula A Note on the Impact of Structural Federal Budget Deficits on Commercial Bank Interest Rates, 1963-1994, Public Finance Review 25, no.44 (Jul 1997): 442–450.https://doi.org/10.1177/109114219702500405Ali F. Darrat, Bill P. Bowers On the U.S. Budget Deficit Dilemma: Has Television Contributed?, The American Economist 40, no.22 (Jul 2016): 77–85.https://doi.org/10.1177/056943459604000210Robert Barro Ricardo and Budget Deficits, (Jan 1996): 13–32.https://doi.org/10.1007/978-1-349-25204-6_2Richard G. Sheehan Adaptive versus rational expectations and the Fisher effect, Applied Economics 28, no.11 (Jul 2006): 1–11.https://doi.org/10.1080/00036849600000001Howard J. Wall Is a military really a luxury good: An international panel study of LDCs, Applied Economics 28, no.11 (Jul 2006): 41–44.https://doi.org/10.1080/00036849600000005Stuart D. Allen, Mark E. Wohar The differing effects of pre-and post-1981 federal budget deficits on tax-adjusted real interest rates, Applied Economics 28, no.11 (Jul 2006): 45–53.https://doi.org/10.1080/00036849600000006Daniel Levy Investment-saving comovement under endogenous fiscal policy, Open Economies Review 6, no.33 (Jul 1995): 237–254.https://doi.org/10.1007/BF01000083M. A. Akhtar MONETARY POLICY AND LONG-TERM INTEREST RATES: A SURVEY OF EMPIRICAL LITERATURE, Contemporary Economic Policy 13, no.33 (Jul 2007): 110–130.https://doi.org/10.1111/j.1465-7287.1995.tb00727.xStacie E Beck The effect of budget deficits on exchange rates: Evidence from five industrialized countries, Journal of Economics and Business 46, no.55 (Dec 1994): 397–408.https://doi.org/10.1016/0148-6195(94)90027-2Prosper Raynold The impact of government deficits when credit markets are imperfect: Evidence from the interwar period, Journal of Macroeconomics 16, no.11 (Dec 1994): 55–76.https://doi.org/10.1016/0164-0704(94)90044-2Elijah Brewer, George G. Kaufman Exploring the real interest rate puzzle, The Quarterly Review of Economics and Finance 34, no.44 (Dec 1994): 363–373.https://doi.org/10.1016/1062-9769(94)90020-5Steven R. Cunningham, Jon Vilasuso Is Keynesian Demand Management Policy Still Viable?, Journal of Post Keynesian Economics 17, no.22 (Nov 2015): 187–210.https://doi.org/10.1080/01603477.1994.11490023Georgios Karras Macroeconomic effects of budget deficits: further international evidence, Journal of International Money and Finance 13, no.22 (Apr 1994): 190–210.https://doi.org/10.1016/0261-5606(94)90015-9Paul Evans, Iftekhar Hasan Are consumers Ricardian? Evidence for Canada, The Quarterly Review of Economics and Finance 34, no.11 (Mar 1994): 25–40.https://doi.org/10.1016/1062-9769(94)90051-5Mohsen Bahmani-Oskooee, Sayeed Payesteh Do budget deficits cause capital inflows? Evidence from the United States, The Quarterly Review of Economics and Finance 34, no.11 (Mar 1994): 63–74.https://doi.org/10.1016/1062-9769(94)90053-1Alan J Auerbach, Jagadeesh Gokhale, Laurence J Kotlikoff Generational Accounting: A Meaningful Way to Evaluate Fiscal Policy, Journal of Economic Perspectives 8, no.11 (Feb 1994): 73–94.https://doi.org/10.1257/jep.8.1.73Robert Haveman Should Generational Accounts Replace Public Budgets and Deficits?, Journal of Economic Perspectives 8, no.11 (Feb 1994): 95–111.https://doi.org/10.1257/jep.8.1.95Richard J. Cebula, Rupert G. Rhodd A note on budget deficits, debt service payments, and interest rates, The Quarterly Review of Economics and Finance 33, no.44 (Dec 1993): 439–445.https://doi.org/10.1016/1062-9769(93)90008-8Kei-Mu Yi Can government purchases explain the recent U.S. net export deficits?, Journal of International Economics 35, no.3-43-4 (Nov 1993): 201–225.https://doi.org/10.1016/0022-1996(93)90017-RPami Dua Interest Rates, Government Purchases, and Budget Deficits: a Forward-Looking Model, Public Finance Quarterly 21, no.44 (Aug 2016): 470–478.https://doi.org/10.1177/109114219302100407Mohsen Bahmani-Oskooee, Sayeed Payesteh Budget deficits and the value of the dollar: An application of cointegration and error-correction modeling, Journal of Macroeconomics 15, no.44 (Sep 1993): 661–677.https://doi.org/10.1016/S0164-0704(05)80004-7Amer K. Al-Saji Government budget deficits, nominal andex ante real long-term interest rates in the U.K., 1960:1–1990:2, Atlantic Economic Journal 21, no.22 (Jun 1993): 71–77.https://doi.org/10.1007/BF02302317Jae Wan Chung Monetary interdependence among G-3 countries, Applied Economics 25, no.55 (Jul 2006): 681–688.https://doi.org/10.1080/00036849300000014Stacie E. Beck The Ricardian equivalence proposition: evidence from foreign exchange markets, Journal of International Money and Finance 12, no.22 (Apr 1993): 154–169.https://doi.org/10.1016/0261-5606(93)90021-3Brian L. Goff Evaluating alternative explanations of post war federal deficits, Public Choice 75, no.33 (Mar 1993): 247–261.https://doi.org/10.1007/BF01119185Willem Thorbecke Why deficit news affects interest rates, Journal of Policy Modeling 15, no.11 (Feb 1993): 1–11.https://doi.org/10.1016/0161-8938(93)90019-MMehdi S. Monadjemi Fiscal policy and private investment expenditure: a study of Australia and the United States, Applied Economics 25, no.22 (Jul 2006): 143–148.https://doi.org/10.1080/00036849300000018Bahram Adrangi, Todd Easton GOVERNMENT BORROWING, INTEREST RATES, AND THE CROWDING OUT EFFECT IN AN OPEN ECONOMY, Studies in Economics and Finance 15, no.11 (Feb 1993): 3–28.https://doi.org/10.1108/eb028706Tony Caporale, Willem Thorbecke The budget deficit and the arbitrage pricing theory, Economics Letters 41, no.33 (Jan 1993): 313–317.https://doi.org/10.1016/0165-1765(93)90159-AStuart D. Allen The determinants of the tax-adjusted real interest rate, Journal of Macroeconomics 14, no.11 (Dec 1992): 15–32.https://doi.org/10.1016/0164-0704(92)90015-ZWilliam R. Hosek, Frank Zahn A flow of funds test of the capital inflow hypothesis, Journal of Macroeconomics 14, no.11 (Dec 1992): 165–177.https://doi.org/10.1016/0164-0704(92)90024-3Richard J. Cebula CENTRAL GOVERNMENT BUDGET DEFICITS AND EX ANTE REAL LONG TERM INTEREST RATES IN ITALY: AN EMPIRICAL NOTE FOR 1955-1989, Metroeconomica 43, no.33 (Oct 1992): 397–402.https://doi.org/10.1111/j.1467-999X.1992.tb00722.xMatiur Rahman, Banamber Mishra Cointegration of U.S. budget and current account deficits: Twins or strangers?, Journal of Economics and Finance 16, no.22 (Jun 1992): 119–127.https://doi.org/10.1007/BF02920112A. F. Darrat, M. E. Wohar U.S. farm exports, government deficits, and money growth: Some recent evidence from vector autoregressions, The International Trade Journal 6, no.33 (Jun 2007): 355–373.https://doi.org/10.1080/08853909208523744John B Shoven, Scott B Smart, Joel Waldfogel Real Interest Rates and the Savings and Loan Crisis: The Moral Hazard Premium, Journal of Economic Perspectives 6, no.11 (Feb 1992): 155–167.https://doi.org/10.1257/jep.6.1.155Richard J. Cebula, Chao-Shun Hung, Neela Manage Deficits and interest rates:, International Review of Economics & Finance 1, no.44 (Jan 1992): 379–387.https://doi.org/10.1016/1059-0560(92)90025-8Mehdi S. Monadjemi, Colm Kearney The interest rate neutrality of fiscal deficits: testing for Ricardian equivalence and capital inflow, Journal of International Money and Finance 10, no.44 (Dec 1991): 541–551.https://doi.org/10.1016/0261-5606(91)90005-5PAUL EVANS IS RICARDIAN EQUIVALENCE A GOOD APPROXIMATION?, Economic Inquiry 29, no.44 (Oct 1991): 626–644.https://doi.org/10.1111/j.1465-7295.1991.tb00851.xRichard J. Cebula A Brief Empirical Note on the Impact of Budget Deficits on the Real Municipal Bond Rate, Public Finance Quarterly 19, no.44 (Aug 2016): 437–443.https://doi.org/10.1177/109114219101900404Mohsen Bahmani-Oskooee On the Effects of U.S. Federal Deficits on its Trade Flows, Journal of Post Keynesian Economics 14, no.11 (Nov 2015): 72–82.https://doi.org/10.1080/01603477.1991.11489879STEPHEN M. MILLER, FRANK S. RUSSEK THE TEMPORAL CAUSALITY BETWEEN FISCAL DEFICITS AND INTEREST RATES, Contemporary Economic Policy 9, no.33 (Jul 1991): 12–23.https://doi.org/10.1111/j.1465-7287.1991.tb00337.xAli F. Darrat Policy impacts under rational expectations, Journal of Banking & Finance 15, no.22 (Apr 1991): 257–271.https://doi.org/10.1016/0378-4266(91)90067-VThomas R. Beard, W.Douglas McMillin The impact of budget deficits in the interwar period, Journal of Macroeconomics 13, no.22 (Mar 1991): 239–266.https://doi.org/10.1016/0164-0704(91)90054-XAli F. Darrat, M.O. Suliman Have budget deficits and money growth caused changes in interest rates and exchange rates in Canada?, North American Review of Economics and Finance 2, no.11 (Mar 1991): 69–82.https://doi.org/10.1016/1042-752X(91)90014-QF.A.G. den Butter Macroeconomic modelling and the policy of restraint in the Netherlands, Economic Modelling 8, no.11 (Jan 1991): 16–33.https://doi.org/10.1016/0264-9993(91)90019-KStuart D. Allen Government borrowing and tax-adjusted real and nominal interest rates, Applied Economics 23, no.11 (Oct 2008): 31–39.https://doi.org/10.1080/00036849108841045Colleen F. Johnson INTEREST RATES, EXPECTED FUTURE DEFICITS AND TAX PROPOSALS, Economic Inquiry 29, no.11 (Jan 1991): 190–193.https://doi.org/10.1111/j.1465-7295.1991.tb01265.xJohn D. Abell Twin deficits during the 1980s: An empirical investigation, Journal of Macroeconomics 12, no.11 (Dec 1990): 81–96.https://doi.org/10.1016/0164-0704(90)90057-HW. Douglas McMillin, Faik Koray Does government debt affect the exchange rate? An empirical analysis of the U.S.—Canadian exchange rate, Journal of Economics and Business 42, no.44 (Nov 1990): 279–288.https://doi.org/10.1016/0148-6195(90)90037-DStuart D. Allen The effect of federal deficits and debt on the tax-adjusted, short-term, real interest rate, Economics Letters 34, no.22 (Oct 1990): 169–173.https://doi.org/10.1016/0165-1765(90)90239-WDAVID W. FINDLAY BUDGET DEFICITS, EXPECTED INFLATION AND SHORT-TERM REAL INTEREST RATES: EVIDENCE FOR THE U.S., International Economic Journal 4, no.33 (Oct 1990): 41–53.https://doi.org/10.1080/10168739000080017DAVID ALAN ASCHAUER IS GOVERNMENT SPENDING STIMULATIVE?, Contemporary Economic Policy 8, no.44 (Oct 1990): 30–46.https://doi.org/10.1111/j.1465-7287.1990.tb00300.xDouglas H. Joines SEASONALITY AND THE MONETIZATION OF FEDERAL BUDGET DEFICITS, Economic Inquiry 28, no.33 (Jul 1990): 413–441.https://doi.org/10.1111/j.1465-7295.1990.tb01232.xJakob Haan, Dick Zelhorst Financial- market effects of Federal Government budget deficits: Comment, Weltwirtschaftliches Archiv 126, no.22 (Jun 1990): 388–392.https://doi.org/10.1007/BF02706366Richard J. Cebula, Kimberly Bates‡, Louise Marks, Allison Roth Financial- market effects of Federal Government budget deficits: reply, Weltwirtschaftliches Archiv 126, no.22 (Jun 1990): 393–396.https://doi.org/10.1007/BF02706367Ali F. Darrat The Impact of Federal Debt Upon Stock Prices in the United States, Journal of Post Keynesian Economics 12, no.33 (Nov 2015): 375–389.https://doi.org/10.1080/01603477.1990.11489806Stefan C. Norrbin, Don E. Schlagenhauf Sources of output fluctuations in the United States during the inter-war and post-war years, Journal of Economic Dynamics and Control 14, no.3-43-4 (Jan 1990): 523–551.https://doi.org/10.1016/0165-1889(90)90032-CRichard J. Cebula A Keynesian Defense of the Reagan Deficit., American Journal of Economics and Sociology 49, no.11 (Jan 1990): 47–52.https://doi.org/10.1111/j.1536-7150.1990.tb02259.xAli F. Darrat, John L. Glascock Real estate returns, money and fiscal deficits: Is the real estate market efficient?, The Journal of Real Estate Finance and Economics 2, no.33 (Sep 1989): 197–208.https://doi.org/10.1007/BF00152348Pami Dua, Harjit K. Arora Do expected budget deficits affect household expectations of interest rates?, Journal of Macroeconomics 11, no.44 (Sep 1989): 551–562.https://doi.org/10.1016/0164-0704(89)90005-0David Alan Aschauer Does public capital crowd out private capital?, Journal of Monetary Economics 24, no.22 (Sep 1989): 171–188.https://doi.org/10.1016/0304-3932(89)90002-0Alan E. H. Speight, Ronald Macdonald Does the public sector obey the rational expectations—permanent income hypothesis? A multi–country study of the time series properties of government expenditures, Applied Economics 21, no.99 (Feb 2007): 1257–1266.https://doi.org/10.1080/758520665Sun-Young Kim, Raymond E. Lombra Why the empirical relationship between deficits and interest rates appears so fragile, Journal of Economics and Business 41, no.33 (Aug 1989): 241–251.https://doi.org/10.1016/0148-6195(89)90022-2Robert J Barro The Ricardian Approach to Budget Deficits, Journal of Economic Perspectives 3, no.22 (May 1989): 37–54.https://doi.org/10.1257/jep.3.2.37David Alan Aschauer Is public expenditure productive?, Journal of Monetary Economics 23, no.22 (Mar 1989): 177–200.https://doi.org/10.1016/0304-3932(89)90047-0Scott W. Barnhart, Ali F. Darrat Federal deficits and money growth in the United States, Journal of Banking & Finance 13, no.11 (Mar 1989): 137–149.https://doi.org/10.1016/0378-4266(89)90024-1William A. Niskanen, Gary H. Stern, John Williamson The Uneasy Relation between the Budget and Trade Deficits, (Jan 1989): 305–328.https://doi.org/10.1007/978-94-017-1288-0_13A. James Meigs Dollars and Deficits: Substituting False for Real Problems, (Jan 1989): 329–349.https://doi.org/10.1007/978-94-017-1288-0_14Paul M. Boothe, Bradford G. Reid Asset returns and government budgets in a small open economy, Journal of Monetary Economics 23, no.11 (Jan 1989): 65–77.https://doi.org/10.1016/0304-3932(89)90062-7W. Douglas Mcmillin, Fair Koray An empirical analysis of the macroeconomic effects of government debt: evidence from Canada, Applied Economics 21, no.11 (Oct 2009): 113–124.https://doi.org/10.1080/772284235PAUL EVANS A TEST OF STEADY-STATE GOVERNMENT-DEBT NEUTRALITY, Economic Inquiry 27, no.11 (Jan 1989): 39–55.https://doi.org/10.1111/j.1465-7295.1989.tb01162.xGERTRUD M. FREMLING, JOHN R. LOT DEADWEIGHT LOSSES AND THE SAVING RESPONSE TO A DEFICIT, Economic Inquiry 27, no.11 (Jan 1989): 117–129.https://doi.org/10.1111/j.1465-7295.1989.tb01167.xRichard J. Cebula, Kimberly Bates, Louise Marks, Allison Roth Financial-market effects of Federal Government budget deficits, Weltwirtschaftliches Archiv 124, no.44 (Dec 1988): 729–733.https://doi.org/10.1007/BF02707773P. L. Siklos The deficit—interest rate link: empirical evidence for Canada, Applied Economics 20, no.1212 (May 2006): 1563–1577.https://doi.org/10.1080/00036848800000088W.Douglas McMillin, Thomas R. Beard Do budget deficits matter? Some pre-world war II evidence, Journal of Economics and Business 40, no.44 (Nov 1988): 295–308.https://doi.org/10.1016/0148-6195(88)90028-8 Paul Evans Are Consumers Ricardian? Evidence for the United States, Journal of Political Economy 96, no.55 (Oct 2015): 983–1004.https://doi.org/10.1086/261572Patrick Minford Interest rates and bond financed deficits in a ricardian two-party democracy, Weltwirtschaftliches Archiv 124, no.33 (Sep 1988): 387–402.https://doi.org/10.1007/BF02708655David Altig Econometric analysis of consumption behavior and fiscal policy a review essay, Journal of Monetary Economics 22, no.11 (Jul 1988): 155–164.https://doi.org/10.1016/0304-3932(88)90176-6Scott W. Barnhart, Ali F. Darrat Budget deficits, money growth and causality: Further OECD evidence, Journal of International Money and Finance 7, no.22 (Jun 1988): 231–242.https://doi.org/10.1016/0261-5606(88)90018-6Matti Virén Interest rates and budget deficits, Economics Letters 28, no.33 (Jan 1988): 235–238.https://doi.org/10.1016/0165-1765(88)90121-8Robert J. Barro Government spending, interest rates, prices, and budget deficits in the United Kingdom, 1701–1918, Journal of Monetary Economics 20, no.22 (Sep 1987): 221–247.https://doi.org/10.1016/0304-3932(87)90015-8Paul Evans Do budget deficits raise nominal interest rates?, Journal of Monetary Economics 20, no.22 (Sep 1987): 281–300.https://doi.org/10.1016/0304-3932(87)90017-1N.Gregory Mankiw The optimal collection of seigniorage, Journal of Monetary Economics 20, no.22 (Sep 1987): 327–341.https://doi.org/10.1016/0304-3932(87)90019-5Charles I. Plosser Fiscal policy and the term structure, Journal of Monetary Economics 20, no.22 (Sep 1987): 343–367.https://doi.org/10.1016/0304-3932(87)90020-1James M. Poterba, Lawrence H. Summers Finite lifetimes and the effects of budget deficits on national saving, Journal of Monetary Economics 20, no.22 (Sep 1987): 369–391.https://doi.org/10.1016/0304-3932(87)90021-3

Referência(s)
Altmetric
PlumX