The case of the undying debt
AbstractThe 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 InfoPaper provided by Federal Reserve Bank of Chicago in its series Working Paper Series with number WP-09-12.
Date of creation: 2009
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