Interest Rates and Budget Deficits: A Study of the Advanced Economies

ISBN-13: 9780415101356 / Angielski / Twarda / 1996 / 288 str.

Kanhaya L. Lkanhaya Lal Gupta; L. Gupta Kanhaya; Kanhaya L. Gupta

Opis

There is widespread belief that the high interest rates of the 1980s and 1990s in the developed world have been caused by high budget deficits. Yet, there is no conclusive evidence to support such a belief. This book systematically examines this and other questions relating to the behaviour of real interest rates in 11 developed countries. The results show that generalizations across the countries can be hazardous and strongly suggests that factors specific to individual countries are still of vital importance.

Spis treści

Chapter 1 1 INTRODUCTION; Chapter 2 2 PROBLEMS OF MEASURING EX-ANTE REAL INTEREST RATES; Chapter 3 3 ESTIMATES AND BEHAVIOUR OF EX-ANTE REAL INTEREST RATES; Chapter 4 4 INTEREST RATES, INFLATION AND TAXES; Chapter 5 5 ON THE EXOGENEITY OF THE REAL INTEREST RATE; Chapter 6 6 BUDGET DEFICITS AND INTEREST RATES: THEORY; Chapter 7 7 BUDGET DEFICITS AND INTEREST RATES: THE EVIDENCE; Chapter 8 8 SOME LESSONS; NOTES; SELECT BIBLIOGRAPHY; INDEX;

O autorze

Kanhaya L.Gupta is Professor of Economics at the University of Alberta., Bakhtiar Moazzami is Associate Professor at Lakehead University. Both have published widely in the fields of macroeconomics and monetary policy.