Does Fiscal Policy Affect Interest Rates? Evidence From A Factor-Augmented Panel

WP/13/159

Does Fiscal Policy Affect Interest Rates? Evidence From A Factor-Augmented Panel
This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset of macroeconomic and fiscal variables for a panel of OECD countries for the period 1989-2012. We find that two global factors—the... READ MORE...

Publication date: July 2013
ISBN 9781484394502
$18.00

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Publication date: July 2013

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Publication date: July 2013

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