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Long-term government bond yelds and economic forecast : evidence for the EU
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Autores
Orientador(es)
Resumo(s)
I use a panel of semi-annual vintages of growth and fiscal forecasts of the European
Commission, covering the period 1998:II-2008:II, to assess its effects on 10-year
government yields for 14 EU countries. Results show that yields increase with better
growth forecasts, and with decreases in budget balance-to-GDP ratios, signalling that
sovereigns may need to pay more to finance in the market higher budget deficits.
Descrição
Palavras-chave
Interest Rates Macro Forecasts European Union
Contexto Educativo
Citação
Afonso, António. 2009. "Long-term government bond yelds and economic forecast : evidence for the EU". Instituto Superior de Economia e Gestão – DE working papers nº 38-2009/DE/UECE.
Editora
ISEG - Departamento de Economia