Determinants of the Government Bond Yield in Spain: A Loanable Funds Model

This paper applies demand and supply analysis to examine the government bond yield in Spain. The sample ranges from 1999.Q1 to 2014.Q2. The EGARCH model is employed in empirical work. The Spanish government bond yield is positively associated with the government debt/GDP ratio, the short-term Treasu...

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Main Author:	Yu Hsing
Format:	Article
Language:	English
Published:	MDPI AG 2015-07-01
Series:	International Journal of Financial Studies
Subjects:	government debt long-term interest rate expected inflation world interest rate exchange rate loanable funds model
Online Access:	http://www.mdpi.com/2227-7072/3/3/342

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spelling	doaj-1e970b03fdd34c73b632bca2d90eae612020-11-25T01:02:44ZengMDPI AGInternational Journal of Financial Studies2227-70722015-07-013334235010.3390/ijfs3030342ijfs3030342Determinants of the Government Bond Yield in Spain: A Loanable Funds ModelYu Hsing0College of Business, Southeastern Louisiana University, Hammond, LA 70402, USAThis paper applies demand and supply analysis to examine the government bond yield in Spain. The sample ranges from 1999.Q1 to 2014.Q2. The EGARCH model is employed in empirical work. The Spanish government bond yield is positively associated with the government debt/GDP ratio, the short-term Treasury bill rate, the expected inflation rate, the U.S. 10 year government bond yield and a dummy variable representing the debt crisis and negatively affected by the GDP growth rate and the expected nominal effective exchange rate.http://www.mdpi.com/2227-7072/3/3/342government debtlong-term interest rateexpected inflationworld interest rateexchange rateloanable funds model
collection	DOAJ
language	English
format	Article
sources	DOAJ
author	Yu Hsing
spellingShingle	Yu Hsing Determinants of the Government Bond Yield in Spain: A Loanable Funds Model International Journal of Financial Studies government debt long-term interest rate expected inflation world interest rate exchange rate loanable funds model
author_facet	Yu Hsing
author_sort	Yu Hsing
title	Determinants of the Government Bond Yield in Spain: A Loanable Funds Model
title_short	Determinants of the Government Bond Yield in Spain: A Loanable Funds Model
title_full	Determinants of the Government Bond Yield in Spain: A Loanable Funds Model
title_fullStr	Determinants of the Government Bond Yield in Spain: A Loanable Funds Model
title_full_unstemmed	Determinants of the Government Bond Yield in Spain: A Loanable Funds Model
title_sort	determinants of the government bond yield in spain: a loanable funds model
publisher	MDPI AG
series	International Journal of Financial Studies
issn	2227-7072
publishDate	2015-07-01
description	This paper applies demand and supply analysis to examine the government bond yield in Spain. The sample ranges from 1999.Q1 to 2014.Q2. The EGARCH model is employed in empirical work. The Spanish government bond yield is positively associated with the government debt/GDP ratio, the short-term Treasury bill rate, the expected inflation rate, the U.S. 10 year government bond yield and a dummy variable representing the debt crisis and negatively affected by the GDP growth rate and the expected nominal effective exchange rate.
topic	government debt long-term interest rate expected inflation world interest rate exchange rate loanable funds model
url	http://www.mdpi.com/2227-7072/3/3/342
work_keys_str_mv	AT yuhsing determinantsofthegovernmentbondyieldinspainaloanablefundsmodel
_version_	1725203897374474240

Determinants of the Government Bond Yield in Spain: A Loanable Funds Model

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