Fiscal Policy, Public Debt and the Term Structure of Interest Rates:
The introduction of the thesis consists of four parts: first, we motivate our chosen macroeconomic setting by looking at some real world phenomena. For a better understanding of these phenomena, we argue that the mutual dynamic interactions between flScal policy and financial markets need to be clos...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Berlin, Heidelberg
Springer Berlin Heidelberg
1999
|
| Ausgabe: | 1st ed. 1999 |
| Schriftenreihe: | Lecture Notes in Economics and Mathematical Systems
476 |
| Schlagworte: | |
| Online-Zugang: | BTU01 URL des Erstveröffentlichers |
| Zusammenfassung: | The introduction of the thesis consists of four parts: first, we motivate our chosen macroeconomic setting by looking at some real world phenomena. For a better understanding of these phenomena, we argue that the mutual dynamic interactions between flScal policy and financial markets need to be closely examined in a macroeconomic framework. Second, we review different strands of the economic literature in order to show that most of the literature has so far exclusively concentrated either on fmancial market dynamics or on flScal policy issues. We conclude that a more integrated model setting is called for in order to explain the dynamic interactions observed in reality. Third, we discuss at length the economic assumptions underlying our model. This avoids multiple repetition later on. Finally, we outline the structure of the thesis and the objectives we pursue in the different chapters. 1. 1 Motivation Fiscal policy and financial market reactions are increasingly receiving world wide attention. The most recent examples are the Maastricht criteria about flScal control, the South-East Asia financial crisis and the resulting IMF policy stance, the high level of public debt in developed and developing countries and the effect on interest rates and economic growth. In contrast to the still underdeveloped theoretical literature on these dynamic links, finding empirical evidence that supports the existence of these links is not a very hard task |
| Beschreibung: | 1 Online-Ressource (X, 282 p) |
| ISBN: | 9783642585951 |
| DOI: | 10.1007/978-3-642-58595-1 |
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| spelling | Demmel, Roland Verfasser aut Fiscal Policy, Public Debt and the Term Structure of Interest Rates by Roland Demmel 1st ed. 1999 Berlin, Heidelberg Springer Berlin Heidelberg 1999 1 Online-Ressource (X, 282 p) txt rdacontent c rdamedia cr rdacarrier Lecture Notes in Economics and Mathematical Systems 476 The introduction of the thesis consists of four parts: first, we motivate our chosen macroeconomic setting by looking at some real world phenomena. For a better understanding of these phenomena, we argue that the mutual dynamic interactions between flScal policy and financial markets need to be closely examined in a macroeconomic framework. Second, we review different strands of the economic literature in order to show that most of the literature has so far exclusively concentrated either on fmancial market dynamics or on flScal policy issues. We conclude that a more integrated model setting is called for in order to explain the dynamic interactions observed in reality. Third, we discuss at length the economic assumptions underlying our model. This avoids multiple repetition later on. Finally, we outline the structure of the thesis and the objectives we pursue in the different chapters. 1. 1 Motivation Fiscal policy and financial market reactions are increasingly receiving world wide attention. The most recent examples are the Maastricht criteria about flScal control, the South-East Asia financial crisis and the resulting IMF policy stance, the high level of public debt in developed and developing countries and the effect on interest rates and economic growth. In contrast to the still underdeveloped theoretical literature on these dynamic links, finding empirical evidence that supports the existence of these links is not a very hard task Public Economics Finance, general Public finance Finance Stochastisches Modell (DE-588)4057633-4 gnd rswk-swf Zinsstruktur (DE-588)4067855-6 gnd rswk-swf Fiskalpolitik (DE-588)4071234-5 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Fiskalpolitik (DE-588)4071234-5 s Zinsstruktur (DE-588)4067855-6 s Stochastisches Modell (DE-588)4057633-4 s DE-604 Erscheint auch als Druck-Ausgabe 9783540662433 Erscheint auch als Druck-Ausgabe 9783642585968 https://doi.org/10.1007/978-3-642-58595-1 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Demmel, Roland Fiscal Policy, Public Debt and the Term Structure of Interest Rates Public Economics Finance, general Public finance Finance Stochastisches Modell (DE-588)4057633-4 gnd Zinsstruktur (DE-588)4067855-6 gnd Fiskalpolitik (DE-588)4071234-5 gnd |
| subject_GND | (DE-588)4057633-4 (DE-588)4067855-6 (DE-588)4071234-5 (DE-588)4113937-9 |
| title | Fiscal Policy, Public Debt and the Term Structure of Interest Rates |
| title_auth | Fiscal Policy, Public Debt and the Term Structure of Interest Rates |
| title_exact_search | Fiscal Policy, Public Debt and the Term Structure of Interest Rates |
| title_exact_search_txtP | Fiscal Policy, Public Debt and the Term Structure of Interest Rates |
| title_full | Fiscal Policy, Public Debt and the Term Structure of Interest Rates by Roland Demmel |
| title_fullStr | Fiscal Policy, Public Debt and the Term Structure of Interest Rates by Roland Demmel |
| title_full_unstemmed | Fiscal Policy, Public Debt and the Term Structure of Interest Rates by Roland Demmel |
| title_short | Fiscal Policy, Public Debt and the Term Structure of Interest Rates |
| title_sort | fiscal policy public debt and the term structure of interest rates |
| topic | Public Economics Finance, general Public finance Finance Stochastisches Modell (DE-588)4057633-4 gnd Zinsstruktur (DE-588)4067855-6 gnd Fiskalpolitik (DE-588)4071234-5 gnd |
| topic_facet | Public Economics Finance, general Public finance Finance Stochastisches Modell Zinsstruktur Fiskalpolitik Hochschulschrift |
| url | https://doi.org/10.1007/978-3-642-58595-1 |
| work_keys_str_mv | AT demmelroland fiscalpolicypublicdebtandthetermstructureofinterestrates |