Narrow search
Showing 1 - 5 of 5
Cover Image
Learning the fiscal theory of the price level: some consequences of debt management policy
Eusepi, Stefano; Preston, Bruce - Federal Reserve Bank of New York - 2011
This paper examines how the scale and composition of public debt can affect economies that implement a combination of …
Persistent link: https://www.econbiz.de/10009320709
Cover Image
Financial market implications of the federal debt paydown
Fleming, Michael J. - Federal Reserve Bank of New York - 2001
U.S. Treasury securities fill several crucial roles in financial markets: they are a risk-free benchmark, a reference and hedging benchmark, and a reserve asset to the Federal Reserve and other financial institutions. Many of the features that make the Treasury market an attractive benchmark and...
Persistent link: https://www.econbiz.de/10005526306
Cover Image
Finite horizons, political economy, and growth
Kahn, James A.; Lim, Jong-Soo - Federal Reserve Bank of New York - 2000
This paper analyzes the political economy of growth when agents and the government have finite horizons and equilibrium growth is inefficient. A "representative" government (that is, one whose preferences reflect those of its constituents) endowed merely with the ability to tax and transfer can...
Persistent link: https://www.econbiz.de/10005420554
Cover Image
Public infrastructure investments, productivity and welfare in fixed geographic areas
Haughwout, Andrew F. - Federal Reserve Bank of New York - 2000
Measures of the value of public investments are critical inputs into the policy process, and aggregate production and … with nontraded, localized public goods like infrastructure is proposed, and a method for identifying the role of public … suggests that while public capital provides significant productivity and consumption benefits, an ambitious program of locally …
Persistent link: https://www.econbiz.de/10005420649
Cover Image
Fiscal foundations of inflation: imperfect knowledge
Eusepi, Stefano; Preston, Bruce - Federal Reserve Bank of New York - 2013
scale and composition of the public debt, matter for inflation. As a result, fiscal policy constrains the efficacy of … moderate had fiscal policy been characterized by a scale and composition of public debt now witnessed in some advanced …
Persistent link: https://www.econbiz.de/10010702291