A New 'Lehman Moment,' or Something Worse? A Scenario of Hitting the Debt Ceiling

Michalis Nikiforos

Economics Policy Note Archive from Levy Economics Institute

Abstract: The United States entered the second week of a government shutdown on Monday, with no end to the deadlock in sight. The cost to the government of a similar shutdown in 1995-96 amounted to $2.1 billion in today's dollars. However, the cost and broader consequences of today's shutdown are not yet clear--especially since the US economy is in the midst of an anemic recovery from the biggest economic crisis of the last eight decades.

Date: 2013-09
New Economics Papers: this item is included in nep-pke
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