The Impact of Federal Debt Upon Stock Prices in the United States

References

• Ahking, Francis W., and Miller, Stephen M. “The Relationship Between Government Deficits, Money Growth, and Inflation.” Journal of Macroeconomics, Fall 1985, 447–467.
   Web of Science ®Google Scholar
• Barnhart, Scott W., and Darrat, Ali F. “Federal Deficits and Money Growth in the United States: A Vector Autoregressive Analysis.” Journal of Banking and Finance, March 1989, 137–149.
   Web of Science ®Google Scholar
• Barro, Robert J. “Are Government Bonds Net Wealth?” Journal of Political Economy, November/December 1974, 1095–1117.
   Web of Science ®Google Scholar
• Barro, Robert J. “Unanticipated Money Growth and Unemployment in the United States.” American Economic Review, March 1977, 101–115.
   Google Scholar
• Bjerring, James; Lakonishok, Josef; and Vermaelen, Theo. “Stock Market Prices and Financial Analysts’ Recommendations.” Journal of Finance, March 1983, 187–204.
   Web of Science ®Google Scholar
• Blanchard, Oliver J. “Debt, Deficits, and Finite Horizons.” Journal of Political Economy, April 1985, 223–247.
   Web of Science ®Google Scholar
• Brunner, Karl. “Some Major Problems in Monetary Theory.” American Economic Review, Proceedings, May 1961, 47–56.
   Google Scholar
• Cagan, Philip. The Channels of Monetary Effects on Interest Rates. New York: Columbia University Press, 1972.
   Google Scholar
• Caines, P. E.; Keng, C. W.; and Sethi, S. P. “Causality Analysis and Multivariate Autoregressive Modelling with an Application to Supermarket Sales Analysis.” Journal of Economic Dynamics and Control, August 1981, 267–298.
   Web of Science ®Google Scholar
• Caves, Douglas, and Feige, Edgar. “Efficient Foreign Exchange Markets and the Monetary Approach to Exchange Rate Determination.” American Economic Review, March 1980, 120–134.
   Google Scholar
• Carmichael, Jeffrey. “On Barro’s Theorem of Debt Neutrality: The Irrelevance of Net Wealth.” American Economic Review, March 1982, 202–213.
   Google Scholar
• Chen, Nai-Fu; Roll, Richard; and Ross, Stephen A. “Economic Forces and the Stock Market.” Journal of Business, July 1986, 383–403.
   Web of Science ®Google Scholar
• Darrat, Ali F. “The Economic Impacts of Taxes in the U.S.: Some Tests Based on the St. Louis Model.” Journal of Economic Studies, 1986, 3–13.
   PubMed Web of Science ®Google Scholar
• Darrat, Ali F. “Have Large Budget Deficits Caused Rising Trade Deficits? Southern Economic Journal, April 1988, 879–887.
   Web of Science ®Google Scholar
• DeLeeuw, Frank, and Holloway, Thomas M. “The Measurement and Significance of the Cyclically-Adjusted Federal Budget and Debt.” Journal of Money, Credit and Banking, May 1985, 232–242.
   Web of Science ®Google Scholar
• Dickey, D. A., and Fuller, W. A. “Distribution of the Estimators for Autoregressive Time Series with a Unit Root.” Journal of the American Statistical Association, June 1979, 427–431.
   Web of Science ®Google Scholar
• Dwyer, Gerald P., Jr. “Inflation and Government Deficits.” Economic Inquiry, July 1982, 315–329.
   Google Scholar
• Evans, Paul. “The Effects of Output of Money Growth and Interest Rates Volatility in the United States.” Journal of Political Economy, April 1984, 204–222.
   Web of Science ®Google Scholar
• Evans, Paul. “Do Large Deficits Produce High Interest Rates?” American Economic Review, March 1985, 68–87.
   Google Scholar
• Evans, Paul. “Interest Rates and Expected Future Budget Deficits in the United States.” Journal of Political Economy, February 1987, 34–58.
   Web of Science ®Google Scholar
• Farley, John U., and Hinich, Melvin. “Testing for a Shifting Slope Coefficient in a Linear Model.” Journal of the American Statistical Association, September 1970, 1320–1329.
   Web of Science ®Google Scholar
• Farley, John U. and McGuire, Timothy W. “Some Comparisons of Tests for a Shift in the Slope of a Multivariate Linear Time Series Model.” Journal of Econometrics, August 1975, 297–318.
   Google Scholar
• Feldstein, Martin. “Government Deficits and Aggregate Demand.” Journal of Monetary Economics, January 1982, 1–20.
   Web of Science ®Google Scholar
• Frenkel, Jacob A., and Razin, Assaf. “Fiscal Policies in the World Economy.” Journal of Political Economy, Part 1, June 1986, 564–594.
   Web of Science ®Google Scholar
• Geweke, John R.; Meese, Richard; and Dent, Warren T. “Comparing Alternative Tests of Causality in Temporal Systems: Analytical Results and Experimental Evidence.” Journal of Econometrics, February 1983, 161–194.
   Web of Science ®Google Scholar
• Hafer, R. W., and Scott, E. Hein. “Further Evidence on the Relationship Between Federal Government Debt and Inflation.” Economic Inquiry, April 1988, 239–251.
   Google Scholar
• Hoelscher, Gregory. “New Evidence on Deficits and Interest Rates.” Journal of Money, Credit and Banking, February 1986, 1–17.
   Web of Science ®Google Scholar
• Joines, Douglas H. “Deficits and Money Growth in the United States, 1872-1983.” Journal of Monetary Economics, November 1985, 329–351.
   Web of Science ®Google Scholar
• Kawai, M. “Exchange Rate Price Causality in the Recent Floating Period.” In The Functioning of Floating Exchange Rates: Theory, Evidence, and Policy Implications, edited by Bigman and Taya. Cambridge: Ballinger Publishing Company, 1980.
   Google Scholar
• Keim, Donald B. “Size-Related Anomalies and Stock Market Seasonality: Some Further Empirical Evidence.” Journal of Financial Economics, June 1983, 13–32.
   Web of Science ®Google Scholar
• Keim, Donald B. and Stambaugh, Robert. “A Further Investigation of the Weekend Effect in Stock Returns.” Journal of Finance, July 1984, 819–534.
   Web of Science ®Google Scholar
• King, Robert G., and Plosser, Charles I. “Money, Deficits and Inflation.” Camegie-Rochester Conference Series on Public Policy, edited by K. Brunner and A. Meltzer. Amsterdam: North-Holland, 1985.
   Google Scholar
• Kormendi, Roger C. “Government Debt, Government Spending, and Private Sector Behavior.” American Economic Review, December 1983, 994–1010.
   Google Scholar
• Laumas, G. S. and McMillin, W. “Anticipated Fiscal Policy and Real Output.” Review of Economics and Statistics, August 1984, 468–471.
   Google Scholar
• Leiderman, Leonard, and Blejer, Mario I. “Modeling and Testing Ricardian Equivalence.” International Monetary Fund, Staff Papers, March 1988, 1–35.
   Google Scholar
• Lustiq, Ivan L., and Leinbach, Philip A. “The Small Firm Effect.” Financial Analysts Journal, May/June 1983, 46–49.
   Google Scholar
• Lutkepohl, Helmut. “Non-Causality Due to Omitted Variables.” Journal of Econometrics, August 1982, 367–378.
   Web of Science ®Google Scholar
• McMillin, W. Douglas. “Federal Deficits, Macrostabilization Goals, and Federal Reserve Behavior.” Economic Inquiry, April 1986, 257–269.
   Google Scholar
• McMillin, W. Douglas and Laumas, G. S. “The Impact of Anticipated and Unanticipated Policy Actions on the Stock Market.” Applied Economics, March 1988, 377–384.
   Google Scholar
• Makin, John H. “Real Interest Rates, Money Surprises, Anticipated Inflation and Fiscal Deficits.” Review of Economics and Statistics, August 1983, 374–384.
   Google Scholar
• Pearce, Douglas K. “Challenges to the Concept of Stock Market Efficiency.” Federal Reserve Book of Kansas City, Economic Review, September/October 1987, 16–33.
   Google Scholar
• Pearce, Douglas K. and Roley, V. “Stock Prices and Economic News.” Journal of Business, January 1985, 49–67.
   Web of Science ®Google Scholar
• Reid, Bradford, G. “Aggregate Consumption and Deficit Financing: An Attempt to Separate Permanent from Transitory Effects.” Economic Inquiry, July 1985, 475–486.
   Google Scholar
• Rozeff, Michael S. “Money and Stock Prices.” Journal of Financial Economics, November 1974, 245–302.
   Google Scholar
• Sorensen, Eric H. “Rational Expectations and the Impact of Money Upon Stock Prices.” Journal of Financial and Quantitative Analysis, December 1982, 649–662.
   Web of Science ®Google Scholar
• Strongin, S. “The Crash, Risk, and Monetary Policy.” Federal Reserve Bank of Chicago, Chicago Fed Letter, December 1987.
   Google Scholar
• Summers, Lawrence H. “Issues in National Savings Policy.” Working Papers 1910, National Bureau of Economic Research, 1985.
   Google Scholar
• Tanner, Ernest J., and Trapani, John M. “Can the Quantity Theory Be Used To Predict Stock Prices? Or is the Stock Market Efficient?” Southern Economic Journal, October 1977, 261–270.
   Web of Science ®Google Scholar
• Thornton, Daniel L., and Batten, Dallas S. “Lag-Length Selection and Tests of Granger Causality Between Money and Income.” Journal of Money, Credit and Banking, May 1985, 164–178.
   Web of Science ®Google Scholar
• Tobin, James. “A General Equilibrium Approach to Monetary Theory.” Journal of Money, Credit and Banking, February 1969, 15–29.
   Google Scholar
• Webb, Roy H. “Commodity Prices as Predictors of Aggregate Price Change.” Federal Reserve Bank of Richmond, Economic Review, November/December 1988, 3–11.
   Google Scholar
• White, Halbert. “Maximum Likelihood Estimating of Misspecified Models.” Econometria, January 1982, 1–26.
   Google Scholar
• Wong, Shee Q. “The Contribution of Inflation Uncertainty to the Variable Impact of Money on Stock Prices.” Journal of Financial Research, Spring 1986, 97–101.
   Web of Science ®Google Scholar
• Zahid, Khan H. “Government Budget Deficits and Interest Rates: The Evidence Since 1971, Using Alternative Deficit Measures.” Southern Economic Journal, January 1988, 725–731.
   Web of Science ®Google Scholar