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Lecture Notes in Economics and Mathematical Systems

Fiscal Policy, Public Debt and the Term Structure of Interest Rates

Authors: Demmel, Roland

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About this book

The introduction of the thesis consists of four parts: first, we motivate our chosen macroeconomic setting by looking at some real world phenomena. For a better understanding of these phenomena, we argue that the mutual dynamic interactions between flScal policy and financial markets need to be closely examined in a macroeconomic framework. Second, we review different strands of the economic literature in order to show that most of the literature has so far exclusively concentrated either on fmancial market dynamics or on flScal policy issues. We conclude that a more integrated model setting is called for in order to explain the dynamic interactions observed in reality. Third, we discuss at length the economic assumptions underlying our model. This avoids multiple repetition later on. Finally, we outline the structure of the thesis and the objectives we pursue in the different chapters. 1. 1 Motivation Fiscal policy and financial market reactions are increasingly receiving world­ wide attention. The most recent examples are the Maastricht criteria about flScal control, the South-East Asia financial crisis and the resulting IMF policy stance, the high level of public debt in developed and developing countries and the effect on interest rates and economic growth. In contrast to the still underdeveloped theoretical literature on these dynamic links, finding empirical evidence that supports the existence of these links is not a very hard task.

Table of contents (7 chapters)

Table of contents (7 chapters)

Buy this book

eBook $84.99
price for USA in USD
  • ISBN 978-3-642-58595-1
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $109.99
price for USA in USD
  • ISBN 978-3-540-66243-3
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Fiscal Policy, Public Debt and the Term Structure of Interest Rates
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
476
Copyright
1999
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-58595-1
DOI
10.1007/978-3-642-58595-1
Softcover ISBN
978-3-540-66243-3
Series ISSN
0075-8442
Edition Number
1
Number of Pages
X, 282
Topics

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