Risultati della ricerca
Creator: Bryant, John B. and Wallace, Neil Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 189 Parola chiave: Rate of return dominance, Private currency, Government debt, and Prohibition Soggetto: E40 - Money and Interest Rates: General and E52 - Monetary Policy
Creator: Aiyagari, S. Rao and McGrattan, Ellen R. Series: Staff Reports (Federal Reserve Bank of Minneapolis) Number: 203 Parola chiave: Borrowing constraints, Precautionary saving, and Government debt Soggetto: H6 - National Budget, Deficit, and Debt and E60 - Macroeconomic policy, macroeconomic aspects of public finance, and general outlook - General
Creator: Miller, Preston J. and Todd, Richard M. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 494 Abstract:
This paper investigates the macroeconomic and welfare effects of a particular public finance decision. That decision was to use debt rather than current taxation to finance deposit insurance payments related to the savings and loan debacle. We find that this decision could have significantly raised real interest rates and affected welfare. The analysis is conducted in a dynamic, open-economy, monetary general equilibrium model in which parameters are set based on empirical observations.
Parola chiave: S & L, Public finance, Real interest rates, Welfare, Deposit insurance, Taxation, Government debt, and Savings and loan Soggetto: G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages and H63 - National Debt; Debt Management; Sovereign Debt