Do citizens care about government debt? Evidence from survey experiments on budgetary priorities

Government Debt

This paper surveys the literature on the macroeconomic effects of government debt. It begins by discussing the data on debt and deficits, including the historical time series, measurement issues, and projections of future fiscal policy. The paper then presents the conventional theory of government debt, which emphasizes aggregate demand in the short run and crowding out in the long run. It next...

Equity Depletion from Government-Guaranteed Debt

Government guarantees of private debt deplete equity. The depletion is greatest during periods when the probability of a guarantee payoff is highest. In a setting otherwise subject to Modigliani-Miller neutrality, firms issue guaranteed debt up to the limit the government permits. Declines in asset values raise debt in relation to asset values and thus deplete equity directly, under the realist...

Optimal Government Debt Maturity

This paper develops a model of optimal government debt maturity in which the government cannot issue state-contingent bonds and cannot commit to fiscal policy. If the government can perfectly commit, it fully insulates the economy against government spending shocks by purchasing short-term assets and issuing long-term debt. These positions are quantitatively very large relative to GDP and do no...

Essays on commitment debt structure and government

Research priorities in urinary incontinence: results from citizens' juries.

OBJECTIVE The objective of this study was to elicit research ideas, priorities and outcome measures from women who suffer from urinary incontinence. DESIGN Citizens' juries gather participants together for a combination of education and deliberation on a specific topic. The juries were held in November 2007. SETTING Women living in the community with urinary incontinence. SAMPLE Purposive...