Budget Deficits, Tax Rules, and real Interest Rates

Martin Feldstein

This paper examines three sources of the fluctuations in real interest rates during the past three decades: changes in budget deficits, changes in tax rules, and changes in monetary policy. The evidence indicates that budget deficits and monetary policy have had a strong influence on the level of long-term interest rates but fails to identify

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Year of publication:	July 1986
Authors:	Feldstein, Martin
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Zins \| Interest rate \| Öffentliche Schulden \| Public debt \| Steuerpolitik \| Tax policy \| Geldpolitik \| Monetary policy \| Realzins \| Real interest rate
Description of contents:	the long-term government bond rate by approximately 1.2 percentage points while the ratio of the current deficit to GNP (either actual or structural) has no significa effect. The

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Extent:	1 Online-Ressource
Series:	NBER working paper series ; no. w1970
Type of publication:	Book / Working Paper
Language:	English
Notes:	System requirements: Adobe [Acrobat] Reader required for PDF files Mode of access: World Wide Web Hardcopy version available to institutional subscribers.
Other identifiers:	10.3386/w1970 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

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