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The case of the undying debt

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  • François Velde

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.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Chicago in its series Working Paper Series with number WP-09-12.

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Date of creation: 2009
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Handle: RePEc:fip:fedhwp:wp-09-12

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Keywords: Debts; Public;

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. The debt that would not disappear
    by Economic Logician in Economic Logic on 2010-01-28 15:07:00

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  1. Economic Logic blog

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