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Selected Works of Tony Caporale
Article
The Budget Deficit and the Arbitrage Pricing Theory
Economics Letters
  • Tony Caporale, University of Dayton
  • Willem Thorbecke, George Mason University
Link
Document Type
Article
Publication Date
1-1-1993
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.

Inclusive pages
313-317
ISBN/ISSN
0165-1765
Publisher
Elsevier
Peer Reviewed
Yes
Disciplines
Citation Information
Tony Caporale and Willem Thorbecke. "The Budget Deficit and the Arbitrage Pricing Theory" Economics Letters Vol. 41 Iss. 3 (1993)
Available at: http://works.bepress.com/tony_caporale/22/