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Autor:innen: 
Erscheinungsjahr: 
2000
Schriftenreihe/Nr.: 
Sveriges Riksbank Working Paper Series No. 55
Verlag: 
Sveriges Riksbank, Stockholm
Zusammenfassung: 
This paper contains an empirical investigation of the effects of fiscal policy on interest rates based on a conventional stochastic macro model designed for a small open economy. The empirical investigation undertaken utilizes data for Sweden, a country which has experienced very large fluctuations in the government budget deficits and in the short- and long-term nominal interest rates, thus providing a better empirical test than previous studies. According to the empirical results, larger budget deficits jspell higher interest rates, as posited by conventional macroeconomic theory.
Schlagwörter: 
Term structure of interest rates
Ricardian equivalence
budget deficits
small open economy
stationary and non-stationary time series
JEL: 
E12
E62
F41
Dokumentart: 
Working Paper
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