Budget deficits and long-term interest rates: 1973–91

Richard Cebula ()

International Advances in Economic Research, 1998, vol. 4, issue 4, 374-383

Abstract: This study investigates the relationship between nominal long-term interest rates and central government budget deficits during the post-Bretton Woods era in Italy. The analysis is based in an open-economy, loanable-funds framework. The cointegration results indicate, among other things, the existence of a long-term positive relationship between the long-term interest rate and the deficit. Copyright International Atlantic Economic Society 1998

Date: 1998
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DOI: 10.1007/BF02295691

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