How Long to Read Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

By Mr. Salvatore Dell'Erba

How Long Does it Take to Read Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel?

It takes the average reader and 44 minutes to read Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel by Mr. Salvatore Dell'Erba

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Description

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. We find that two global factors—the global monetary and fiscal policy stances—explain more than 60 percent of the variance in the long-term interest rates. Compared to the estimates from models which do not account for global factors, we find that the importance of domestic variables in explaining long-term interest rates is weakened. Moreover, the propagation of global fiscal shocks is larger in economies characterized by macroeconomic and institutional weaknesses.

How long is Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel?

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel by Mr. Salvatore Dell'Erba is 44 pages long, and a total of 11,176 words.

This makes it 15% the length of the average book. It also has 14% more words than the average book.

How Long Does it Take to Read Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 1 minute to read Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel aloud.

What Reading Level is Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel?

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel is suitable for students ages 8 and up.

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