Fiscal Policy and Financial Markets

Fiscal Policy and Financial Markets
This paper introduces fiscal policy in a model of sovereign risk spreads ("spreads"). Using panel data from emerging market countries, we find that reductions in public expenditure are a more powerful tool for reducing spreads than increases in revenues. Specifically, cuts in current spending lower spreads by more than cuts in investment... READ MORE...

Publication date: January 2006
ISBN 9781451862768
$15.00

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