Cato Institute / University of Chicago Booth School / /
IndustryTerm
Treasury Direct / Direct Express / bank account / bank reserves / Similar devices / insurance / retail demands / crises involving bank notes / large shadow-banking system / fixed-income products / large-volume low-cost secure transactions services / policy tool / bank / large non-bank financial institutions / reserve-backed bank accounts / policy tools / deposit insurance / Widespread non-reservable bank / Pay.gov / /
Organization
University of Chicago Booth School of Business / U.S. Government / Cato Institute / Congress / Hoover Institution / US Federal Reserve / NBER / U. S. Treasury / /
Person
Effi Benmelech / Luis Viceira / Larry Summers / Milton Friedman / John Taylor / Bob Hall / Josh Rauh / Darrell Duffie / Michael Boskin / Sebastian Di Tella / John Campbell / Derek Kaufman / /
A New Structure for U. S. Federal Debt John H. Cochrane∗ March 13, 2015 Abstract I propose a new structure for U. S. Federal debt. All debt should be perpetual, paying