Even allowing for substantial uncertainty regarding projections, current US fiscal policies are almost certainly unsustainable. Therefore,…
Trying to reduce federal budget deficits by increasing the efficiency of federal operations is an appealing idea. However, greater…
In the United States, massive fiscal expansion during the pandemic protected households and helped to return output and unemployment nearly…
We study international capital flows across 200 years. A major novelty is our analysis on official flows (government-to-government lending…
The outlook for federal debt represents a significant economic challenge for the United States. Economic developments and policy changes…
This paper shows that China's lending boom to developing country sovereigns has largely ended and that debt distress and defaults are…
The global economy has witnessed great economic volatility in the first two decades of the 21st century. Yet over this period, and in…
This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. It builds the…
This paper employs an updated algorithm and database for classifying exchange rate and anchor currency choice, to explore the evolution of…