Interest Rate Risk and Other Determinants of Post-WWII U.S. Government Debt/GDP Dynamics

George J. Hall and Thomas Sargent

No 15702, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper uses the sequence of government budget constraints to motivate estimates of interest payments on the U.S. Federal government debt. We explain why our estimates differ conceptually and quantitatively from those reported by the U.S. government. We use our estimates to account for contributions to the evolution of the debt to GDP ratio made by inflation, growth, and nominal returns paid on debts of different maturities.

JEL-codes: E31 E43 H6 (search for similar items in EconPapers)
Date: 2010-01
New Economics Papers: this item is included in nep-cba, nep-his and nep-mac
Note: EFG ME
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

Published as George J. Hall & Thomas J. Sargent, 2011. "Interest Rate Risk and Other Determinants of Post-WWII US Government Debt/GDP Dynamics," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(3), pages 192-214, July.

Downloads: (external link)
http://www.nber.org/papers/w15702.pdf (application/pdf)

Related works:
Journal Article: Interest Rate Risk and Other Determinants of Post-WWII US Government Debt/GDP Dynamics (2011)
Working Paper: Interest rate risk and other determinants of post WWII U.S. government debt/GDP dynamics (2010)
Working Paper: Interest rate risk and other determinants of post WWII U.S. government debt/GDP dynamics (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:15702

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w15702

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().