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The Cost of Debt

✍ Scribed by JULES H. Van BINSBERGEN; JOHN R. GRAHAM; JIE YANG

Book ID
109177715
Publisher
John Wiley and Sons
Year
2010
Tongue
English
Weight
987 KB
Volume
65
Category
Article
ISSN
0022-1082

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## ABSTRACT In this paper, we estimate the impact of changes in fiscal policy regime on the yield curve. In particular, we differentiate between yield curve responses under __active__ and __passive__ fiscal policy regimes (according to the terminology of Leeper (1991)). Analyzing US data in the per