Estimating the effects of government debt and deficits on Treasury yields is complicated by
the need to isolate the effects of fiscal policy from other influences. To control for the effects …

Does government debt affect interest rates? Despite a substantial body of empirical analysis,
the answer based on the past two decades of research is mixed. While many studies …

We analyze determinants of sovereign bond yields in 22 advanced economies over the
1980–2010 period using panel cointegration techniques. The application of the …

ECONOMIC ANALYSIS OF the aggregate effects of fiscal policy dates back at least to the
work of David Ricardo. Modern academic interest was reinvigorated by the work of Robert …

The effects of fiscal policy on the economy have received substantial attention in academic
and policy circles. We review this literature in light of recent policy debates and new …

Can the Federal Reserve or the European Central Bank (ECB) be held responsible for price
stability, regardless of how fiscal policy is conducted? Is legal independence sufficient to …

This paper analyses how fiscal policy affects monetary policy in emerging economies. First,
it conducts a test for fiscal dominance, and finds that the evidence points clearly to a regime …

This study analyzes the relationship between budget deficits, government debt, and interest
rates using Japanese data. Employing the event study methodology, we find that the …

This paper surveyed and access the empirical literature on the sources of budget deficit and
their policy implications on the processes of sustainable economic growth and development …

Laubach provides a critical review of the empirical literature that focuses on the effects of
budget deficits on interest rates. The main empirical problem in estimating this relationship is …