korrents

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The bulk of government debt should gradually consist of fixed-coupon perpetuities and fixed-value floating-rate perpetuities.

Drawn from what John H. Cochrane said

Subjectgovernment
What this subject means

government What states are for and what they are worse at than markets and networks: legitimacy, moral hazard, and who may be entrusted with power.

What John H. Cochrane actually said

  1. John H. Cochrane Economist at the Hoover Institution
    Simplifying a bit, the Treasury should introduce a fixed-coupon perpetuity and a fixed-value floating-rate perpetuity. These should gradually make up the bulk of government debt.

    ↗Better Debtgrumpy-economist.com

    19 Sept 2026

Added to korrents 19 Sept 2026 · How quotes work · Something wrong? Tell us

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