, including: the effect of debt conversions on the structure of debtor countries' external liabilities, the incentives debt … debt swaps programs in the so-called "menu-of-options" approach to restructuring developing countries' bank debts. …This paper is a general discussion of debt conversions in heavily indebted developing countries. The paper first …

This paper surveys the literature on the macroeconomic effects of government debt. It begins by discussing the data on … debt and deficits, including the historical time series, measurement issues, and projections of future fiscal policy. The … paper then presents the conventional theory of government debt, which emphasizes aggregate demand in the short run and …

and spending-policy actions, for short--in the United States. First, we estimate simple models of defense expenditures …

The discount function, which determines the value of all future nominal payments, is the most basic building block of …