FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2335127549> ?p ?o ?g. }

• W2335127549 endingPage "66" @default.
• W2335127549 startingPage "66" @default.
• W2335127549 abstract "The U.S. dollar appreciated in value over 40% from early 1979 until it peaked in February 1985.' Also during this period the U.S. federal government budget deficit grew from $16b to $200b. According to Hakkio and Higgins [15] it is high U.S. interest rates and foreign capital inflows into the U.S. that provide the linkage between these two events. There is a considerable debate in the literature as to the precise influence of budget deficits upon these various linkages. Evans [10], for example, suggests that large deficits did not cause the rise in the dollar. Also, there are numerous studies refuting the association between deficits and interest rates; see Evans [11] and Hoelscher [16] for example. On the other hand, Plosser [25] reports a positive association between government spending and interest rates and Hoelscher [17] reports a positive association between deficits and long-term rates. This paper uses an open-economy vector autoregression (VAR) model to investigate these linkages, finding that after controlling for the influence of money, inflation, the dollar, and the trade deficit, there is indeed causality running from deficits to long-term interest rates. The model also identifies a relationship between long-rates and the dollar value, thus verifying the linkage, albeit indirect, of budget deficits and the dollar value. A second concern is that large budget deficits may have led to an accommodative monetary policy causing excessive money growth rates at times. For example, from 1982:07-1983:09 Ml growth averaged 13% and when the dollar value peaked in 1985, Ml was growing at about 12%.2 A number of authors have examined this issue, yet collectively they have not arrived at a uniform conclusion. Ahking and Miller [1] provide a summary of these studies. The majority of these studies suffer from at least one of two faults that I attempt to correct in this paper. In particular, they either suffer from exogeneity problems stemming from single-equation models or they suffer from omitted variable bias due to the exclusion of international variables. Variance decompositions generated from an open-economy VAR indicate that deficits explain more of the variance of the forecast error of money growth than any other variable. The results also verify that deficits affect inflation only through their influence on the money supply." @default.
• W2335127549 created "2016-06-24" @default.
• W2335127549 creator A5000119083 @default.
• W2335127549 date "1990-07-01" @default.
• W2335127549 modified "2023-10-18" @default.
• W2335127549 title "The Role of the Budget Deficit during the Rise in the Dollar Exchange Rate from 1979-1985" @default.
• W2335127549 cites W1481526821 @default.
• W2335127549 cites W1484682656 @default.
• W2335127549 cites W1486581237 @default.
• W2335127549 cites W1489235499 @default.
• W2335127549 cites W1528915289 @default.
• W2335127549 cites W1558384502 @default.
• W2335127549 cites W1593995499 @default.
• W2335127549 cites W1975653682 @default.
• W2335127549 cites W2013220905 @default.
• W2335127549 cites W2019459021 @default.
• W2335127549 cites W2029105882 @default.
• W2335127549 cites W2063639998 @default.
• W2335127549 cites W2064064151 @default.
• W2335127549 cites W2072244775 @default.
• W2335127549 cites W2087408230 @default.
• W2335127549 cites W2137873244 @default.
• W2335127549 cites W2145809539 @default.
• W2335127549 cites W2169645214 @default.
• W2335127549 cites W2252855276 @default.
• W2335127549 cites W2316379243 @default.
• W2335127549 cites W2895270050 @default.
• W2335127549 cites W3109019591 @default.
• W2335127549 cites W3122327838 @default.
• W2335127549 doi "https://doi.org/10.2307/1060478" @default.
• W2335127549 hasPublicationYear "1990" @default.
• W2335127549 type Work @default.
• W2335127549 sameAs 2335127549 @default.
• W2335127549 citedByCount "30" @default.
• W2335127549 countsByYear W23351275492013 @default.
• W2335127549 countsByYear W23351275492014 @default.
• W2335127549 countsByYear W23351275492015 @default.
• W2335127549 countsByYear W23351275492017 @default.
• W2335127549 countsByYear W23351275492018 @default.
• W2335127549 countsByYear W23351275492019 @default.
• W2335127549 countsByYear W23351275492022 @default.
• W2335127549 crossrefType "journal-article" @default.
• W2335127549 hasAuthorship W2335127549A5000119083 @default.
• W2335127549 hasConcept C10138342 @default.
• W2335127549 hasConcept C109168655 @default.
• W2335127549 hasConcept C120527767 @default.
• W2335127549 hasConcept C139719470 @default.
• W2335127549 hasConcept C162324750 @default.
• W2335127549 hasConcept C2776988154 @default.
• W2335127549 hasConcept C3019931467 @default.
• W2335127549 hasConcept C45619296 @default.
• W2335127549 hasConcept C556758197 @default.
• W2335127549 hasConceptScore W2335127549C10138342 @default.
• W2335127549 hasConceptScore W2335127549C109168655 @default.
• W2335127549 hasConceptScore W2335127549C120527767 @default.
• W2335127549 hasConceptScore W2335127549C139719470 @default.
• W2335127549 hasConceptScore W2335127549C162324750 @default.
• W2335127549 hasConceptScore W2335127549C2776988154 @default.
• W2335127549 hasConceptScore W2335127549C3019931467 @default.
• W2335127549 hasConceptScore W2335127549C45619296 @default.
• W2335127549 hasConceptScore W2335127549C556758197 @default.
• W2335127549 hasIssue "1" @default.
• W2335127549 hasLocation W23351275491 @default.
• W2335127549 hasOpenAccess W2335127549 @default.
• W2335127549 hasPrimaryLocation W23351275491 @default.
• W2335127549 hasRelatedWork W1491476415 @default.
• W2335127549 hasRelatedWork W1524521583 @default.
• W2335127549 hasRelatedWork W2041798681 @default.
• W2335127549 hasRelatedWork W2048208342 @default.
• W2335127549 hasRelatedWork W2740265128 @default.
• W2335127549 hasRelatedWork W2895934965 @default.
• W2335127549 hasRelatedWork W3123235287 @default.
• W2335127549 hasRelatedWork W3123790765 @default.
• W2335127549 hasRelatedWork W3125073960 @default.
• W2335127549 hasRelatedWork W3125626747 @default.
• W2335127549 hasVolume "57" @default.
• W2335127549 isParatext "false" @default.
• W2335127549 isRetracted "false" @default.
• W2335127549 magId "2335127549" @default.
• W2335127549 workType "article" @default.