The Value of Government Debt
收藏NBER2019-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w26090
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资源简介：
The market value of government debt equals the present discounted value of primary surpluses. Applying present value decompositions from asset pricing to this valuation equation, I find that half of the variation in the market value of debt to GDP ratio corresponds to varying forecasts of future
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美国国家经济研究局创建时间：
2019-07-01
