著者

亀田 啓悟

出版者

関西学院大学

雑誌

総合政策研究 (ISSN:1341996X)

巻号頁・発行日

no.28, pp.109-120, 2008-03

---

The purpose of this paper is to review preceding literatures on the relationship between budget deficits, government debt, and interest rates. The knowledge from this survey is as follows: (1) After the seminal paper of Plosser (1982), we have many literatures on this topic. (2) All of the recent studies care for the expectation about future budgetary situation by using either event studies or published forecasts as a proxy of the market expectations. (3) Almost all of recent studies are on US economy, and we have only two literatures on Japanese economy; Nakazato et al. (2003) and Fukuda and Ji (2002). (4) Unfortunately, these two studies do not seem to utilize the knowledge since Plosser (1982).