Fiscal Policy, Public Debt and the Term Structure of Interest Rates

by Roland Demmel

The book discusses the dynamic interactions between fiscal policy and financial markets in a setting of stochastic growth and general equilibrium. In so doing, two important strands of literature are integrated: macroeconomic dynamics and mathematical finance. This enables the development of the dynamics of important financial market variables completely within the model, thus freeing the analyst from arbitrarily assuming them. Moreover, it becomes possible to analyze the influence of fiscal policy on interest rate dynamics explicitly. The effect of the interest rate dynamics on the evolution of growth and the feedback effects between public debt and interest rate dynamics are also examined in detail

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Year of publication:	1999
Authors:	Demmel, Roland
Publisher:	Berlin : Springer
Subject:	Öffentliche Schulden \| Public debt \| Zinsstruktur \| Yield curve \| Finanzpolitik \| Fiscal policy \| Theorie \| Theory
Description of contents:	Table of Contents [external.dandelon.com] ; Description [zbmath.org]

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Extent:	Online-Ressource (X, 282 p) digital
Series:	Lecture Notes in Economics and Mathematical Systems ; 476
Type of publication:	Book / Working Paper
Language:	English
Notes:	Introduction -- The basic deterministic macroeconomic model -- The basic stochastic macroeconomic model and the short-term interest rate dynamics -- Term structure of interest rates and fiscal policy -- Economic growth and fiscal policy -- Public debt dynamics -- Summary, conclusions and outlook on future research -- General appendix 1: Brownian motion and stochastic integration -- General appendix 2: Stochastic differential equations and diffusion processes -- General appendix 3: Stochastic optimization and dynamic programming.
ISBN:	978-3-642-58595-1 ; 978-3-540-66243-3
Other identifiers:	10.1007/978-3-642-58595-1 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013518549