TY  - BOOK
AU  - Grobys,Klaus
TI  - An empirical analysis of changes of the impact of federal budget deficits on stock market returns: evidence from the US economy
SN  - 13504851
AV  - HB1.A666 APP 
PY  - 2013///
CY  - New York
PB  - Taylor and Francis
KW  - Federal budget deficits
KW  - Stock markets
KW  - Impulse response
N2  - We investigate the causality between the real federal budget deficit returns and real stock market returns for the US economy. We divide the overall sample into two sub-samples running from 1968:1 to 1988:3 and from 1988:4 to 2011:3. In contrast to earlier studies, we find a significant positive relationship between real stock market returns and real federal budget deficit returns for both samples. Moreover, we find that the stochastic interrelations between these variables have considerably changed over time
UR  - https://doi.org/10.1080/13504851.2013.765534
ER  -