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Loan rates vs. public debt rates: do loan rates reflect special values to the borrower or information intensive lending?

Cook, Douglas O.; Spellman, Lewis J. - Federal Reserve Bank of Chicago - 2006

Bank loans and public debt are competing funding sources for firms without barriers to public debt markets. With firms … seeking the least costly funding and investors in both public debt markets and bank loan markets seeking the highest return … prevail. However, there are two bodies of literature suggesting that loan rates and public debt rates for the same firm might …

Persistent link: https://www.econbiz.de/10011026831

Do deficits cause inflation?

Humpage, Owen F. - In: Economic Commentary (1982) Nov

An examination of possible ways in which large, persistent federal budget deficits could cause inflation through action on money-stock growth, velocity, and real gross national product (GNP).

Persistent link: https://www.econbiz.de/10005390375

Do high debt payments hinder household consumption smoothing?

Johnson, Kathleen W.; Li, Geng - Federal Reserve Board (Board of Governors of the … - 2007

Recently, U.S. households have committed a rising share of disposable personal income to required principal and interest payments on household debt. Studies of the direct link between the household debt service ratio (DSR) and consumption show mixed results—perhaps because debt may instead...

Persistent link: https://www.econbiz.de/10005393742

Optimal portfolio allocation in a world without Treasury securities

Bomfim, Antulio N. - Federal Reserve Board (Board of Governors of the … - 2001

If current projections of future budget surpluses materialize, investing in Treasury securities--an asset class with which investors have long been familiar--could eventually become a thing of the past. In this paper, I examine the extent to which investors' portfolio allocation decisions are...

Persistent link: https://www.econbiz.de/10005393890

Is monetary policy becoming less effective?

Fair; Ray C. - Federal Reserve Bank of San Francisco - 1995

This paper estimates the amount by which the effectiveness of monetary policy in changing real output for a given change in interest rates has declined due to the increased size of the federal government debt.

Persistent link: https://www.econbiz.de/10005401534