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Recent Rise in Federal Government and Federal Reserve Liabilities--Antidote to a Speculative Hangover

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  • Dimitri B. Papadimitriou
  • Greg Hannsgen

Abstract

Federal government and Federal Reserve (Fed) liabilities rose sharply in 2008. Who holds these new liabilities, and what effects will they have on the economy? Some economists and politicians warn of impending inflation. In this new Strategic Analysis, the Levy Institute's Macro-Modeling Team focuses on one positive effect--a badly needed improvement of private sector balance sheets--and suggest some of the reasons why it is unlikely that the surge in Fed and federal government liabilities will cause excessive inflation.

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  • Dimitri B. Papadimitriou & Greg Hannsgen, 2009. "Recent Rise in Federal Government and Federal Reserve Liabilities--Antidote to a Speculative Hangover," Economics Strategic Analysis Archive sa_apr_09_2, Levy Economics Institute.
  • Handle: RePEc:lev:levysa:sa_apr_09_2
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    Cited by:

    1. Canale, Rosaria Rita, 2011. "Default risk and fiscal sustainability in PIIGS countries," MPRA Paper 32215, University Library of Munich, Germany.
    2. Dimitri B. Papadimitriou & Greg Hannsgen & Gennaro Zezza, 2009. "Sustaining Recovery--Medium-term Prospects and Policies for the U.S. Economy," Economics Strategic Analysis Archive sa_dec_09, Levy Economics Institute.

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