The Impact of the Federal Budget Deficit on the Nominal Interest Rate Yield on U.S. Treasury Notes, 1979-2001

Richard Cebula ()

The IUP Journal of Applied Economics, 2004, vol. III, issue 2, 7-18

Abstract: This study empirically examines the impact of the federal government budget deficit on the nominal interest rate yield on U.S. Treasury notes over the 1979-2001 period. In a system that includes the monetary base, the civilian labor force unemployment rate, the ex ante real 52 week Treasury bill rate, and the percentage real growth rate of the S&P 500 stock index, ECM (error-correction model) estimation finds that the total federal budget deficit acted to increase the nominal interest rate yield on seven year U.S. Treasury notes over the study period

Date: 2004
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Working Paper: The Impact of the Federal Budget Deficit on the Nominal Interest Rate Yield on US Treasury Notes, 1979-2001 (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjae:v:03:y:2004:i:2:p:7-18

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