This paper studies the main channels through which interest rate normalization has fiscalimplications in the United States. While unexpected inflation reduces the real value ofgovernment liabilities, a rising policy rate increases government financing needs because ofhigher interest payments and...

The terrorist attacks of September 11, 2001 increased U.S. patriotism, but did they affect voting behavior? Did fire, police, and EMS departments sense an opportunity to increase their funding after the highly-publicized rescue efforts? We find no evidence of more frequently proposed tax levies...

On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium “New Paradigms in Money and Finance?” All the papers in the present SUERF Study are based on...