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The budget deficit and the arbitrage pricing theory

descriptionPublicationkeyboard_double_arrow_right Article 01 Jan 1993 United States English Publisher:Elsevier BVJournal:Economics Letters, volume 41, pages 313-317 (issn: 0165-1765,

Authors: Caporale, Tony; Thorbecke, Willem;

doi: 10.1016/0165-1765(93)90159-a

The budget deficit and the arbitrage pricing theory

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Abstract

Abstract Non-linear SUR techniques are used to demonstrate that the budget deficit is a priced factor in the Arbitrage Pricing Theory. The results also indicate that unexpected increases in the deficit lower stock prices.

Country

United States

Related Organizations

Ohio University
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George Mason University
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University of Dayton
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University System of Ohio
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Ohio University - Lancaster
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Keywords

Economic History, Economics, Finance and Financial Management, and Operations, Management, International Economics, Economic Theory, Finance, Business Administration

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	2
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Average
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Average