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"This paper uses the sequence of government budget constraints to motivate estimates of interest payments on the U.S. Federal government debt. We explain why our estimates differ conceptually and quantitatively from those reported by the U.S. government. We use our estimates to account for...
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This paper analyzes the recent growth of government domestic debt, including central bank debt, using a new data base … reflects financial crises, the growth of central bank debt and the greater attractiveness to governments of issuing domestic … of central bank debt can divert central banks from pursuit of the objective of price stability …
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