The $13 Trillion Question: Managing the U.S. Government's Debt

Synopsis

This Book Argues That The Treasury Could Save Taxpayers Money And Help The Economy By Borrowing More Short Term And Less Long Term .it Is Also Argues 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. Each Chapter Includes Responses From A Variety Of Public And Private Sector Experts On How The Treasury Does Its Borrowing. -- Back Of Book Preface / Robin Greenwood, Samuel G. Hanson, And David Wessel -- 1. The Optimal Maturity Of Government Debt / Robin Greenwood, Samuel G. Hanson, Joshua S. Rudolph, And Lawrence H. Summers. Comments By Janice Eberly, Brian Sack -- 2. Debt Management Conflicts Between The U.s. Treasury And The Federal Reserve / Robin Greenwood, Samuel G. Hanson, Joshua S. Rudolph, And Lawrence H. Summers. Comments By Mary John Miller, Paul Mcculley, Stephen G. Cecchetti, Jason Cummins -- 3. A New Structure For U.s. Federal Debt / John H. Cochrane. Comment By Darrell Duffie -- 4. Concluding Observations / Lawrence H. Summers David Wessel, Editor. Includes Bibliographical References And Index.