Manufacturing Risk-free Government Debt
收藏NBER2020-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w27786
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资源简介：
Governments face a trade-off between insuring households who pay taxes and receive transfers and bondholders against aggregate output risk. Insulating bondholders by keeping the debt risk-free imposes tight restrictions on the expected primary surplus process and its covariance with aggregate shocks
提供机构：
美国国家经济研究局
创建时间：
2020-09-01
