Fiscal Policy
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The US national debt now stands at $40 trillion
The $40 Trillion Milestone The United States national debt officially surpassed a staggering $40 trillion on Wednesday. This unprecedented milestone was recorded just five months after the debt hit $39…
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Structural Mismatch in Explanations for the Rise in r∗
The macroeconomic debate on the natural rate of interest (r∗) raises key questions about the long-term cost of capital in the United States. This rate represents the real interest rate…
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AI tax debate misses the threat that’s already here
The AI Tax Debate and Fiscal Reality Senator Wyden recently proposed limiting tax benefits for new data centers and levying a new excise tax. Many lawmakers actively want to use…
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Tax Incentives and Venture Capital Risk-Taking: Evidence from the QSBS Program
In public economics and corporate finance, the long-term relationship between tax incentives venture capital risk allocation remains a core policy question. Governments frequently utilize targeted tax subsidies to accelerate technological innovation and…
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Gender and Taxation
World Bank. Gender and Taxation: Insights from New Data Across 81 Economies. The policy brief Gender and Taxation: Insights from New Data across 81 Economies analyzes how tax systems incorporate…
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Testing Debt Limits
F&D Magazine. IMF In this editor’s letter, Gita Bhatt introduces the central theme of the March 2026 issue of Finance & Development: the growing limits of public debt. For years,…
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Policy Coordination for Fractured Times
Finance & Development – IMF Published in the March 2026 issue of Finance & Development, this article by Giancarlo Corsetti and Leonardo Melosi — both professors of economics at the…
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High Debt, Hard Choices
F&D Magazine. High Debt, Hard Choices- March 2026 This article by Era Dabla-Norris and Rodrigo Valdes analyzes the growing challenges posed by rising public debt and higher interest rates. It…
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Can Advanced Economies Avoid Debt Distress?
F&D Magazine. Stabilizing Debt in Advanced Economies This article by Zsolt Darvas and Jeromin Zettelmeyer examines whether advanced economies can stabilize rising public debt levels. It focuses on long-term fiscal…