Matches in SemOpenAlex for { <https://semopenalex.org/work/W2035343005> ?p ?o ?g. }
- W2035343005 abstract "This paper provides new evidence that sustained budget deficits reduce national saving and raise interest rates by economically and statistically significant quantities. Using a series of econometric specifications that nest Ricardian and non-Ricardian models, we obtain evidence of strong non-Ricardian behavior in aggregate consumption. Consistent with several recent studies, we find that projected future deficits affect longterm interest rates, but current deficits do not. Our estimates suggest that each percent-of-GDP in current deficits reduces national saving by 0.5 to 0.8 percent of GDP. Each percent-of-GDP in projected future unified deficits raises forward long-term interest rates by 25 to 35 basis points, and each percent-of-GDP in projected future primary deficits raises interest rates by 40 to 70 basis points." @default.
- W2035343005 created "2016-06-24" @default.
- W2035343005 creator A5059227008 @default.
- W2035343005 creator A5060268328 @default.
- W2035343005 date "2004-09-01" @default.
- W2035343005 modified "2023-09-26" @default.
- W2035343005 title "Budget Deficits, National Saving, and Interest Rates" @default.
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