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Financial globalization, inequality, and the raising of public debt

Azzimonti, Marina; Francisco, Eva de; Quadrini, Vincenzo - Federal Reserve Bank of Philadelphia - 2012

markets and endogenous government borrowing and show that governments choose higher levels of public debt when financial …

Persistent link: https://www.econbiz.de/10010551327

Maturity, indebtedness, and default risk

Chatterjee, Satyajit; Eyigungor, Burcu - Federal Reserve Bank of Philadelphia - 2011

In this paper, the authors advance the theory and computation of Eaton-Gersovitz style models of sovereign debt by incorporating long-term debt and proving the existence of an equilibrium price function with the property that the interest rate on debt is increasing in the amount borrowed and...

Persistent link: https://www.econbiz.de/10009251191

The marginal cost of funds with nonseparable public spending

Ahmed, Shaghil; Croushore, Dean - Federal Reserve Bank of Philadelphia - 1992

Persistent link: https://www.econbiz.de/10005717423

The long-run behavior of the public debt in the United States

Horrigan, Brian R. - Federal Reserve Bank of Philadelphia - 1986

Persistent link: https://www.econbiz.de/10005512265

Is money growth and inflation related to government deficits? Evidence from ten industrialized countries

Protopapadakis, Aris A.; Siegel, Jeremy J. - Federal Reserve Bank of Philadelphia - 1986

Persistent link: https://www.econbiz.de/10005512331

Maturity, indebtedness, and default risk

Chatterjee, Satyajit; Eyigungor, Burcu - Federal Reserve Bank of Philadelphia - 2009

We present a novel and tractable model of long-term sovereign debt. We make two sets of contributions. First, on the substantive side, using Argentina as a test case we show that unlike one-period debt models, our model of long-term sovereign debt is capable of accounting for the average spread,...

Persistent link: https://www.econbiz.de/10005387504

Improving GDP measurement: a forecast combination perspective

Aruoba, S. Boragan; Diebold, Francis X.; Nalewaik, Jeremy; … - Federal Reserve Bank of Philadelphia - 2011

Two often-divergent U.S. GDP estimates are available, a widely-used expenditure-side version GDPE, and a much less widely-used income-side version GDI . The authors propose and explore a "forecast combination" approach to combining them. They then put the theory to work, producing a superior...

Persistent link: https://www.econbiz.de/10009320691

The welfare effects of distortionary taxation and government spending: some new results

Ahmed, Shaghil; Croushore, Dean D. - Federal Reserve Bank of Philadelphia - 1990

Persistent link: https://www.econbiz.de/10005717382

Improving GDP measurement: a measurement-error perspective

Aruoba, S. Boragan; Diebold, Francis X.; Nalewaik, Jeremy; … - Federal Reserve Bank of Philadelphia - 2013

We provide a new and superior measure of U.S. GDP, obtained by applying optimal signal-extraction techniques to the (noisy) expenditure-side and income-side estimates. Its properties -- particularly as regards serial correlation -- differ markedly from those of the standard expenditure-side...

Persistent link: https://www.econbiz.de/10010652361

The dynamics of public investment under persistent electoral advantage

Azzimonti, Marina - Federal Reserve Bank of Philadelphia - 2011

This paper studies the effects of asymmetries in re-election probabilities across parties on public policy and its … subsequent propagation to the economy. The struggle between opposing groups — that disagree on the composition of public … overspending on public goods arise, as resources are more valuable when in power. Because the party enjoying an electoral advantage …

Persistent link: https://www.econbiz.de/10009146816