This study examines the impact of the structural budget deficit on the cost of funds at commercial banks. The cost of funds is measured as an ex ante real interest rate. The results of an instrumental variables estimate in first differences indicate that the structural deficit exercises a...

For the period 1963-1994, this study (a) empiracally investigates the impact of structural federal budget deficits on the commercial bank cost of deposits and prime rate of interest and (b) provides currentlupdated information through 1994 on this important policy issue of the interest rate...

This article empirically investigates the impact of the federal budget deficit on the real interest-rate yield on high-grade, long-term municipal bonds. The model uses quarterly data and covers the period 1971:4 through 1985:4. Estimating in first-difference form by instrumental variables, it is...

This study examines the role that compensation plays in the self-selection process of legislator attributes in the U.S. Congress. The statistical results from the 104th Congress suggest that human capital levels of senators are significantly different from those of representatives, and this...