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Government borrowing cost and balance sheets: do assets matter?

Abstract:

Government net worth – total assets less liabilities – has declined considerably relative to national income in a number of OECD countries in recent decades, including the United States, the United Kingdom, Japan and Germany. Notably, however, in thinking about the links between fiscal policy and bond markets, the focus of policy and academic debates has tended to be on the liabilities side of the government balance sheet. Typically, not much attention has been paid to the exten...

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Publication status:
Published

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Publisher:
University of Oxford Publisher's website
Series:
Department of Economics Discussion Paper Series
Publication date:
2018-10-18
Paper number:
860
Keywords:
Pubs id:
1140856
Local pid:
pubs:1140856
Deposit date:
2020-12-14

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