A New View of the Federal Debt and Budget Deficits: Comment

摘要: In a recent paper (1984), Robert Eisner and Paul Pieper, present new calculations of the real value federal debt. Pieper correctly take account fluctuations in market nominal assets liabilities, also changes values wrought by inflation. They define an adjusted deficit as change net debt government (liabilities less assets). Defining L(A) already outstanding liabilities (assets), P price level its rate change, D conventionally measured deficit, Eisner-Pieper their (D*/P)