Fiscal Policy x Interest Rates (Dell’Erba & Sola)

Does fiscal policy affect interest rates? Evidence from a factor-augmented panel prepared by Salvatore Dell’Erba and Sergio Sola published by IMF (7/2013). “This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset of macroeconomic and fiscal variables for a panel of OECD countries for the period 1989-2012.”

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