Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/211516 
Authors: 
Year of Publication: 
1988
Series/Report no.: 
Bank of Finland Discussion Papers No. 13/1988
Publisher: 
Bank of Finland, Helsinki
Abstract: 
This paper examines the question of whether budget deficits raise nominal interest rates. The empirical analyses make use of cross-country data from 16 countries covering the period 1924 - 1938 .. Contrary to some recent studies (by e.g. Evans), it turns out that budget deficits affect nominal rates positively and thus the Ricardian equivalence proposition can be questioned.
Persistent Identifier of the first edition: 
ISBN: 
951-686-158-X
Document Type: 
Working Paper

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