Accounting for the federal government's cost of funds
This article describes and defends the authors' corrections to the federal government's flawed measure of its cost of funds. Further, it examines how the maturity structure of the debt influences the way inflation risk and interest rate risk are shared by the government and its creditors.
Volume (Year): (1997)
Issue (Month): Jul ()
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- Missale, Alessandro & Blanchard, Olivier Jean, 1994.
"The Debt Burden and Debt Maturity,"
American Economic Review,
American Economic Association, vol. 84(1), pages 309-19, March.
- Thomas J. Sargent & Neil Wallace, 1981. "Some unpleasant monetarist arithmetic," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall.
- Robert R. Bliss, 1996. "Testing term structure estimation methods," Working Paper 96-12, Federal Reserve Bank of Atlanta.
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