Budget Deficits and Interest Rates: A Fresh Perspective
We extend the literature on budget deficits and interest rates in three ways: we examine both advanced and emerging economies and for the first time a large emerging market panel; explore interactions to explain some of the heterogeneity in the literature; and apply system GMM. There is overall a hi...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
|
Schriftenreihe: | IMF Working Papers
Working Paper No. 08/42 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | We extend the literature on budget deficits and interest rates in three ways: we examine both advanced and emerging economies and for the first time a large emerging market panel; explore interactions to explain some of the heterogeneity in the literature; and apply system GMM. There is overall a highly significant positive effect of budget deficits on interest rates, but the effect depends on interaction terms and is only significant under one of several conditions: deficits are high, mostly domestically financed, or interact with high domestic debt; financial openness is low; interest rates are liberalized; or financial depth is low |
Beschreibung: | 1 Online-Ressource (19 p) |
ISBN: | 1451869045 9781451869040 |
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spelling | Aisen, Ari Verfasser aut Budget Deficits and Interest Rates A Fresh Perspective Aisen, Ari Washington, D.C International Monetary Fund 2008 1 Online-Ressource (19 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/42 We extend the literature on budget deficits and interest rates in three ways: we examine both advanced and emerging economies and for the first time a large emerging market panel; explore interactions to explain some of the heterogeneity in the literature; and apply system GMM. There is overall a highly significant positive effect of budget deficits on interest rates, but the effect depends on interaction terms and is only significant under one of several conditions: deficits are high, mostly domestically financed, or interact with high domestic debt; financial openness is low; interest rates are liberalized; or financial depth is low Online-Ausg Hauner, David Sonstige oth http://elibrary.imf.org/view/IMF001/09014-9781451869040/09014-9781451869040/09014-9781451869040.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Aisen, Ari Budget Deficits and Interest Rates A Fresh Perspective |
title | Budget Deficits and Interest Rates A Fresh Perspective |
title_auth | Budget Deficits and Interest Rates A Fresh Perspective |
title_exact_search | Budget Deficits and Interest Rates A Fresh Perspective |
title_exact_search_txtP | Budget Deficits and Interest Rates A Fresh Perspective |
title_full | Budget Deficits and Interest Rates A Fresh Perspective Aisen, Ari |
title_fullStr | Budget Deficits and Interest Rates A Fresh Perspective Aisen, Ari |
title_full_unstemmed | Budget Deficits and Interest Rates A Fresh Perspective Aisen, Ari |
title_short | Budget Deficits and Interest Rates |
title_sort | budget deficits and interest rates a fresh perspective |
title_sub | A Fresh Perspective |
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