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Original Articles

Long-term interest rates and expected future budget deficits: evidence from the term structure

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Pages 365-368 | Published online: 04 Feb 2009

References

  • Elmendorf , D. ( 1996 ) The effects of deficit reduction laws on real interest rates, Federal Reserve Board, Finance and Economics Discussion Series No. 1996–44
  • Feldstein , M. ( 1986 ) Budget deficits, tax rules, and real interest rates, Working Paper 1970, National Bureau of Economic Research, Cambridge, MA
  • Gale , W. and Orszag , P. 2003 . Economic effects of sustained budget deficits . National Tax Journal , 56 : 463 – 85 .
  • Kitchen , J. 1996 . Deficit announcements . Journal of International Finance and Money , 15 : 239 – 54 .
  • Laubach , T. 2003 . New Evidence on the Interest Rate Effects of Budget Deficits and Debt , Washington : Board of Governors of Federal Reserve System .
  • Wachtel , P. and Young , J. 1987 . Deficit announcements and interest rates . American Economic Review , 77 : 1007 – 12 .

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