"A New 'Lehman Moment,' or Something Worse? A Scenario of Hitting the Debt Ceiling"
The United States entered the second week of a government shutdown on Monday, with no end to the deadlock in sight. The cost to the government of a similar shutdown in 1995-96 amounted to $2.1 billion in today's dollars. However, the cost and broader consequences of today's shutdown are not yet clear--especially since the US economy is in the midst of an anemic recovery from the biggest economic crisis of the last eight decades.
Year of publication: |
2013-09
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Authors: | Nikiforos, Michalis |
Institutions: | Levy Economics Institute |
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