Cebula, Richard J. - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 223, pp. 417-435
Using error-correction model (ECM) estimation, this study empirically examines, for theUS, the causality relationship between the federal government budget deficitand the ex ante real long term interest rate. The system includes personal federal income tax rates, the M2 money supply, the...