rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Budget Deficits, Tax Rules, and real Interest Rates
  name:
    name part: Feldstein, Martin.
    role:
      role term: creator
  name:
    name part: National Bureau of Economic Research
  type of resource: text
  origin info:
    place:
      place term: mau
    place:
      place term: Cambridge, Mass
    publisher: National Bureau of Economic Research
    date issued: 1986
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: remote
    extent: 1 online resource: illustrations (black and white);
  abstract: This paper examines three sources of the fluctuations in real interest rates during the past three decades: changes in budget deficits, changes in tax rules, and changes in monetary policy. The evidence indicates that budget deficits and monetary policy have had a strong influence on the level of long-term interest rates but fails to identify
  abstract: any effect of changes in corporate tax rates and investment incentives.
  abstract: The analysis shows that it is projected future budget deficits rather than the current level of the actual or structural deficit that influence long-term interest rates. Each percentage point increase in the five-year projected ratio of budget deficits to GNP raises
  abstract: the long-term government bond rate by approximately 1.2 percentage points while the ratio of the current deficit to GNP (either actual or structural) has no significa effect. The
  abstract: specific parameter estimates imply that the increase in projected budget deficits was responsible for about two-thirds of the rise in the interest rates between 1977-78 and 1983-84.
  target audience: specialized
  note: Martin Feldstein.
  note: July 1986.
  subject:
    topic: Budget deficits
  classification: HJ2005 .F453 1986
  classification: 339.523
  related item:
    title info:
      title: Working Paper Series (National Bureau of Economic Research) no. w1970
  record info:
    record content source: MaCbNBER
    record creation date: 230622
    record change date: 20230622022911.0
    record identifier: 99370889510806441
    language of cataloging:
      language term: eng