The case of the undying debt

Francois Velde ()

No WP-09-12, Working Paper Series from Federal Reserve Bank of Chicago

Abstract: The French government currently honors a very unusual debt contract: an annuity that was issued in 1738 and currently yields ?1.20 per year. I tell the story of this unique debt, which serves as an anecdotal but symbolic summary of French public finances since the 18th century.

Keywords: Debts; Public (search for similar items in EconPapers)
Date: 2009
New Economics Papers: this item is included in nep-his
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Journal Article: The case of the undying debt (2010)
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