Do fiscal rules lower government financing costs?

We assess the effect of fiscal rules on sovereign bond yields over the short and medium-term, for 34 advanced countries and 21 emerging market economies, over the period 1980-2016. Our results, based on impulse response functions, show that the dynamic impact of fiscal rules on bond yields is negati...

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Bibliographic Details
Main Author: Afonso, António (author)
Other Authors: Jalles, João (author)
Format: workingPaper
Language:eng
Published: 2018
Subjects:
fiscal rules
sovereign yields
financing costs
impulse response functions
local projection
Online Access:http://hdl.handle.net/10400.5/15988
Country:Portugal
Oai:oai:www.repository.utl.pt:10400.5/15988

Internet

http://hdl.handle.net/10400.5/15988

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