NEW YORK (Reuters) -JPMorgan Chase & CO CEO Jamie Dimon said on Thursday the bank is convening weekly meetings to discuss the implications of a potential U.S. default, according to an interview on Bloomberg TV. That bank's so-called "war room" will probably sta...
government hit its debt limit, and the saga has floated back to the surface. In the rest of today’s note, we revisit what we know and what we’ve learned out of Washington over the past week. Spotlight: Guess who’s back, back again: Debt ceiling drama At the start of the year,...
But when asked what they would support if the U.S. would end up defaulting on itscurrent debt, many change their mind. In this case, seven in 10 Americans favor raising the ceiling to let the U.S. pay its debts. As was the case inFebruary, Republicans, Democrats and independent...
The debt ceiling, which is currently around $22 trillion, is the legal limit on the total amount of debt that the federal government can accrue; according to theCommittee for a Responsible Federal Budget, it applies to both the $16.2 trillion held by the public, and the $5.9 trillion owed...
To analyze these implications in a coherent framework is not an easy task. This paper constructs a small open economy model, in the tradition of the dynamic stochastic general equilibrium (DSGE) literature, to assess the macroeconomic and fiscal effects of public investment surges in resource-rich...
C.D.S.-Implied Risk of U.S. Delinquency: Implications for the U.S. Debt CeilingCompound OptionDelinquency RateCredit Default SwapsDebt CeilingIn this paper, we use a structural credit risk model developed by Geske (1977) and generalized by Chen et al. (2014) to assess the delinquency risk...
A debt ceiling may halt this process leading to less debt, more public consumption and higher welfare. Introduction Fiscal frameworks (institutional/procedural rules, e.g., a budget law) have become widespread and are an integral part of the EU policy framework.1 An essential element is ...
they could actually get. To do this, we divided the registration process into two steps: first they entered their registration details, next they went on to payment. If the event filled up between the time they started filling out the initial form and submitted it, they’d join the wait...
(This is Part 3 of my series – A New Theory of Energy and the Economy. These are links toPart 1andPart 2.) Many readers have asked me to explain debt. They also wonder, “Why can’t we just cancel debt and start over?” if we are reaching oil limits, and these limits threaten...
A separate source who’s also familiar with negotiations said the two sides are still working out details on the length of the spending caps deal, which Democrats have insisted should only last for as long as a debt ceiling raise. Based on current discussions, non-defense discretionary spending...