WebThe government budget constraint ties the market value of government debt to the expected risk-adjusted present discounted value of fiscal surpluses. We find evidence that U.S. … WebMar 4, 2024 · The government budget constraint ties the market value of government debt to the expected present discounted value of fiscal surpluses. We find evidence that U.S. …
Stanford University first version: Dec. 10, 2024 this version: …
Web1 day ago · Africa’s Sovereign Debt Crisis. In 2009, the Zambian-born economist Dambisa Moyo published the instant bestseller Dead Aid. 25 Moyo’s main argument in the book was that there was little to show for the hundreds of billions of dollars in foreign aid that had been given to the African continent since 1970. Rather than spurring development, she … WebThis resolves government debt valuation puzzles. Nevertheless, the government faces a “Debt Laffer Curve”. ... 2024. "The U.S. Public Debt Valuation Puzzle," NBER Working Papers 26583, National Bureau of Economic Research, Inc. Jiang, Zhengyang & Lustig, Hanno & van Nieuwerburgh, Stijn & Xiaolan, Mindy, 2024. ... you can help us creating ... spring dependency for maven project
The U.S. Public Debt Valuation Puzzle (uh oh) : marginal - Reddit
WebThe U.S. Public Debt Valuation Puzzle Abstract The market value of outstanding federal government debt in the U.S. exceeds the expected present discounted value of current and future primary surpluses by a multiple of U.S. GDP. When the pricing kernel fits U.S. equity and Treasury prices and the government surpluses are WebThe market value of outstanding federal government debt in the U.S. exceeds the expected present discounted value of current and future primary surpluses by a multiple of U.S. GDP. When the pricing kernel fits U.S. equity and Treasury prices and the government surpluses are consistent with U.S. post-war data, a government debt valuation puzzle ... spring designs clip art