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...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Aisen, Ari
Muut tekijät: Hauner, David
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2008.
Sarja:IMF Working Papers; Working Paper ; No. 2008/042
Linkit:Full text available on IMF
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245 1 0 |a Budget Deficits and Interest Rates :   |b A Fresh Perspective /  |c Ari Aisen, David Hauner. 
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300 |a 1 online resource (19 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Hauner, David. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2008/042 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2008/042/001.2008.issue-042-en.xml  |z IMF e-Library