Budget deficits and interest rates : a fresh perspective /

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Bibliographic Details
Author / Creator:Aisen, Ari, 1971- author.
Imprint:Washington, D.C. : International Monetary Fund, Fiscal Affairs Dept., 2008.
Description:1 online resource (19 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/08/42
IMF working paper ; WP/08/42.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12497275
Hidden Bibliographic Details
Other authors / contributors:Hauner, David, author.
International Monetary Fund. Fiscal Affairs Department.
ISBN:1283512068
9781283512060
1451913575
9781451913576
Notes:Includes bibliographical references (pages 13-15).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary: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.
Other form:Print version: Aisen, Ari, 1971- Budget deficits and interest rates. Washington, D.C. : International Monetary Fund, Fiscal Affairs Dept., 2008
Standard no.:10.5089/9781451913576.001

MARC

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245 1 0 |a Budget deficits and interest rates :  |b a fresh perspective /  |c prepared by Ari Aisen and David Hauner. 
260 |a Washington, D.C. :  |b International Monetary Fund, Fiscal Affairs Dept.,  |c 2008. 
300 |a 1 online resource (19 pages) :  |b illustrations 
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490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/08/42 
504 |a Includes bibliographical references (pages 13-15). 
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. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
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583 1 |a digitized  |c 2010  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
588 0 |a Print version record. 
505 0 |a I. Introduction; II. Model and Methodology; III. Data; IV. Results; A. Baseline; B. Periods and Regions; C. Interactions; V. Conclusions; Appendix: Country Groups; References; Tables; 1. Descriptive Statistics; 2. Baseline; 3. Periods and Regions; 4. Interactions. 
650 0 |a Budget deficits  |x Econometric models. 
650 0 |a Interest rates  |x Econometric models. 
650 6 |a Déficit budgétaire  |x Modèles économétriques. 
650 6 |a Taux d'intérêt  |x Modèles économétriques. 
650 7 |a Budget deficits  |x Econometric models.  |2 fast  |0 (OCoLC)fst00840406 
650 7 |a Interest rates  |x Econometric models.  |2 fast  |0 (OCoLC)fst00976180 
655 4 |a Electronic books. 
700 1 |a Hauner, David,  |e author.  |0 http://id.loc.gov/authorities/names/no2004096112 
710 2 |a International Monetary Fund.  |b Fiscal Affairs Department.  |0 http://id.loc.gov/authorities/names/n81027435 
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