Douglas W Elmendorf
Biographic Data
| ID | 1470874 |
|---|---|
| NAME | Douglas W Elmendorf |
| GIVEN NAMES | Douglas W |
| FAMILY NAME | Elmendorf |
| SIGNATURE | ELMENDORF D W |
| AFFILIATIONS | U.S. Department of the Treasury, Washington, D.C. |
| VERIFIED | No |
| TOTAL WORKS | 4 |
| TOTAL CITATIONS | 3 |
| AUTHOR COUNT | 4 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1996 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 1 |
Putting US Fiscal Policy on a Sustainable Path
Even allowing for uncertainty about the future economy, current US fiscal policies are almost certainly unsustainable. Therefore, policymakers must decide when and in what ways to raise taxes and reduce spending to put debt on a lower trajectory. Acting sooner rather than later would increase national savings, broaden the policy options, reduce the chance of a fiscal crisis, and provide fiscal space for responding to adverse developments. The pro…
Federal Budget Policy with an Aging Population and Persistently Low Interest Rates
Some observers have argued that the projections for high and rising debt pose a grave threat to the country's economic future and give the government has less fiscal space to respond to recessions or other unexpected developments, so they urge significant changes in tax or spending policies to reduce federal borrowing. In stark contrast, others have noted that interest rates on long-term federal debt are extremely low and have argued that such pe…
Should America Save for its Old Age? Fiscal Policy, Population Aging, and National Saving
We examine whether the aging of the U.S. population adds force to traditional arguments for boosting national saving and conclude--perhaps surprisingly--that it may not. Aging boosts the demands on future resources, but it also changes the rate of return the U.S. economy can expect from saving. We find that the net effect on desired saving is small: some specifications imply that present consumption should fall by a fraction of 1 percent; others …
The Effect of News on Bond Prices: Evidence from the United Kingdom, 1900-1920
We study the relationship of non-quantitative news to bond prices. We select a set of major news events based solely on their significance as judged by historians, and examine the corresponding bond price movements. We find strong evidence that news has some influence on bond price movements, but we find no evidence that news can explain more than a small fraction of those movements
Should America Save for its Old Age? Fiscal Policy, Population Aging, and National Saving
We examine whether the aging of the U.S. population adds force to traditional arguments for boosting national saving and conclude--perhaps surprisingly--that it may not. Aging boosts the demands on future resources, but it also changes the rate of return the U.S. economy can expect from saving. We find that the net effect on desired saving is small: some specifications imply that present consumption should fall by a fraction of 1 percent; others …
Federal Budget Policy with an Aging Population and Persistently Low Interest Rates
Some observers have argued that the projections for high and rising debt pose a grave threat to the country's economic future and give the government has less fiscal space to respond to recessions or other unexpected developments, so they urge significant changes in tax or spending policies to reduce federal borrowing. In stark contrast, others have noted that interest rates on long-term federal debt are extremely low and have argued that such pe…
The Effect of News on Bond Prices: Evidence from the United Kingdom, 1900-1920
We study the relationship of non-quantitative news to bond prices. We select a set of major news events based solely on their significance as judged by historians, and examine the corresponding bond price movements. We find strong evidence that news has some influence on bond price movements, but we find no evidence that news can explain more than a small fraction of those movements
Should America Save for its Old Age? Fiscal Policy, Population Aging, and National Saving
We examine whether the aging of the U.S. population adds force to traditional arguments for boosting national saving and conclude--perhaps surprisingly--that it may not. Aging boosts the demands on future resources, but it also changes the rate of return the U.S. economy can expect from saving. We find that the net effect on desired saving is small: some specifications imply that present consumption should fall by a fraction of 1 percent; others …
Federal Budget Policy with an Aging Population and Persistently Low Interest Rates
Some observers have argued that the projections for high and rising debt pose a grave threat to the country's economic future and give the government has less fiscal space to respond to recessions or other unexpected developments, so they urge significant changes in tax or spending policies to reduce federal borrowing. In stark contrast, others have noted that interest rates on long-term federal debt are extremely low and have argued that such pe…
Putting US Fiscal Policy on a Sustainable Path
Even allowing for uncertainty about the future economy, current US fiscal policies are almost certainly unsustainable. Therefore, policymakers must decide when and in what ways to raise taxes and reduce spending to put debt on a lower trajectory. Acting sooner rather than later would increase national savings, broaden the policy options, reduce the chance of a fiscal crisis, and provide fiscal space for responding to adverse developments. The pro…
Economics (3 works) · Monetary economics (3 works) · Finance (2 works) · Monetary Policy and Economic Impact (2 works) · Population (2 works) · Bond (1 works) · Business (1 works) · Credit Risk and Financial Regulations (1 works) · Debt (1 works) · Debt-to-GDP ratio (1 works)