Cebula, Richard J.; Saltz, Ira S. - In: Swiss Journal of Economics and Statistics (SJES) 133 (1997) I, pp. 19-27
The empirical results obtained in this study suggest that, in the United States, a rise in the real long-term rate of interest elicits a rise in the federal government budget deficit. This impact of the real long-term interest rate appears to arise because of the negative effect that higher real...