LEADER 03296nam 2200601 450 001 9910797713403321 005 20230120070644.0 010 $a0-8157-2706-2 010 $a0-8157-2707-0 035 $a(CKB)3710000000529428 035 $a(OCoLC)931534191 035 $a(MdBmJHUP)muse47330 035 $a(Au-PeEL)EBL5179915 035 $a(CaPaEBR)ebr11528248 035 $a(OCoLC)1015863620 035 $a(Au-PeEL)EBL4965105 035 $a(CaONFJC)MIL877544 035 $a(OCoLC)1024251965 035 $a(MiAaPQ)EBC5179915 035 $a(MiAaPQ)EBC4321754 035 $a(MiAaPQ)EBC4965105 035 $a(EXLCZ)993710000000529428 100 $a20160819h20162016 uy 0 101 0 $aeng 135 $aur|||||||nn|n 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 05$aThe $13 trillion question $ehow America manages its debt /$fDavid Wessel, editor 210 1$aWashington, District of Columbia :$cBrookings Institution Press,$d2016. 210 4$dİ2016 215 $a1 online resource 311 $a0-8157-2705-4 320 $aIncludes bibliographical references at the end of each chapters and index. 327 $aFront Cover -- Title Page -- Copyright Information -- Table of Contents -- Acknowledgments -- Preface -- The Optimal Maturity of Government Debt -- Debt Management Conflicts Between the U.S. Treasury and the Federal Reserve -- A New Structure for U.S. Federal Debt -- Concluding Observations -- Contributors -- Index -- Back Cover. 330 $aThe underexamined art and science of managing the federal government's huge debt.Everyone talks about the size of the U.S. national debt, now at 13 trillion and climbing, but few talk about how the U.S. Treasury does the borrowing-even though it is one of the world's largest borrowers. Everyone from bond traders to the home-buying public is affected by the Treasury's decisions about whether to borrow short or long term and what types of bonds to sell to investors.What is the best way for the Treasury to finance the government's huge debt? Harvard's Robin Greenwood, Sam Hanson, Joshua Rudolph, and Larry Summers argue that the Treasury could save taxpayers money and help the economy by borrowing more short term and less long term. They also argue that the Treasury and the Federal Reserve made a huge mistake in recent years by rowing in opposite directions: while the Fed was buying long-term bonds to push investors into other assets, the Treasury was doing the opposite-selling investors more long-term bonds.This book includes responses from a variety of public and private sector experts on how the Treasury does its borrowing, some of whom have criticized the way the Treasury has been managing its borrowing. 606 $aDebts, Public$zUnited States 606 $aFinance, Public$zUnited States 606 $aFiscal policy$zUnited States 606 $aMonetary policy$zUnited States 615 0$aDebts, Public 615 0$aFinance, Public 615 0$aFiscal policy 615 0$aMonetary policy 676 $a336.3/40973 702 $aWessel$b David 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910797713403321 996 $aThe$91196799 997 $aUNINA