An empirical analysis for the US of the impact of federal budget deficits and the average effective personal income tax rate on the ex post real interest rate yield on ten-year Treasuries

An empirical analysis for the US of the impact of federal budget deficits and the average effective personal income tax rate on the ex post real interest rate yield on ten-year Treasuries

We investigate the impact of federal government budget deficits and federal personal income tax rates on the ex post real interest rate yield on ten-year US Treasury notes. Using autoregressive two-stage least squares estimations for the post-Bretton Woods era, we find that the yield on these Treasu...

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Bibliographic Details
Main Authors: Richard J. Cebula, Robert Boylan
Format: Article
Language:English
Published: Associazione Economia civile 2019-03-01
Series:PSL Quarterly Review
Subjects:
budget deficits
income tax rates
ex ante real interest rates
thirty-year treasury bonds
monetary policy
open-economy loanable funds model
Online Access:https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/14262/pdf

Internet

https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/14262/pdf

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