Long-term interest rates and expected future budget deficits: evidence from the term structure

IF 1.2 4区经济学 Q3 ECONOMICS Applied Economics Letters Pub Date : 2009-02-04 DOI:10.1080/13504850601018544

L. B. Thomas, Danhua Wu

引用次数: 17

Abstract

This article examines the relationship between current and expected future real Treasury bond yields, forecasts of budget deficits and market risk. Both expected future deficits and risk strongly influenced expected future real Treasury bond yields in the United States in the 1983–2005 period.

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长期利率和预期未来预算赤字:来自期限结构的证据

本文考察了当前和预期未来实际国债收益率、预算赤字预测和市场风险之间的关系。在1983-2005年期间，预期的未来赤字和风险都强烈影响了预期的未来实际美国国债收益率。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Applied Economics Letters ECONOMICS-

CiteScore

2.90

自引率

6.20%

发文量

460

期刊介绍： Applied Economics Letters is a companion journal to Applied Economics and Applied Financial Economics. It publishes short accounts of new original research and encourages discussion of papers previously published in its two companion journals. Letters are reviewed by the Editor, a member of the Editorial Board or another suitable authority. They are generally applied in nature, but may include discussion of method and theoretical formulation. In a change to the format of the Applied Financial Series of journals, from 2009 Applied Financial Economics Letters will be incorporated into its sister journal Applied Economics Letters.