Fiscal Policy and Interest Rates in the European Union

Fiscal Policy and Interest Rates in the European Union

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Fiscal Policy and Interest Rates in the European Union is a comprehensive study concerned with the potential effects of fiscal policy on financial markets in the European Union. It takes into account the gradual liberalization of capital movements throughout Western Europe and the institutional framework of the European monetary system. Klaas Knot takes a fresh approach to the impact of budget deficits on interest rates, especially in relation to international financial integration, and concludes that the increases in European budget deficits since the early 1970s have raised interest rates in the long term throughout the Union. In conclusion he argues that balanced budget deficits are necessary to maintain low interest rates. This important new book will be of interest to students, academics and policymakers concerned with monetary and public more

Product details

  • Hardback | 224 pages
  • 156 x 234 x 25.4mm | 387g
  • Edward Elgar Publishing Ltd
  • Cheltenham, United Kingdom
  • English
  • tables, bibliography, author index, subject index
  • 1858984297
  • 9781858984292

Review quote

'The literature survey nature of some of the chapters in the book will prove invaluable to final year and postgraduate students, as well as to researchers new to the fields of interest and exchange rate determination.' -- Bob Sedgewick, Economic Journalshow more

Table of contents

Contents: 1. Introduction and Outline 2. Fiscal Policy: Theory, Determinants and Measurement 3. European Capital Markets: Deficit and Interest Rates 4. Deficit Announcements and Interest Rates in Germany 5. Interest Rate Differentials and Exchange Rate Policies in the European Monetary System 6. Fundamental Determinants of Interest Rate Differentials in the EMS 7. Summary and Conclusion Bibliography Indexesshow more

About Klaas H.W. Knot

Klaas H.W. Knot, De Nederlandsche Bank, The Netherlandsshow more