AMSTERDAM — The city of Amsterdam is making the final payment on $7.7 million it borrowed in 2020 to cover its accumulated budget deficit. “It's a great accomplishment by our city to be able to do ...

We examine the macroeconomic, asset pricing, and public debt consequences of deficit financing dividend taxation in a dynamic general equilibrium model featuring partial investment irreversibility.

Back in the summer of 2004, Nouriel Roubini and I published a paper arguing that large trade deficits implied a deteriorating US net international investment position and a deteriorating “income” ...