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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.

Suggested Citation

  • François Velde, 2009. "The case of the undying debt," Working Paper Series WP-09-12, Federal Reserve Bank of Chicago.
  • Handle: RePEc:fip:fedhwp:wp-09-12
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    References listed on IDEAS

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    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 21:07:00

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    Keywords

    Debts; Public;

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