Arbeitspapier
The first debt ceiling crisis
In the second half of 1953 the United States, for the first time, risked exceeding the statutory limit on Treasury debt. This paper describes how Congress, the White House, and Treasury officials dealt with the looming crisis - by deferring and reducing expenditures, monetizing "free" gold that remained from the devaluation of the dollar in 1934, and, ultimately, raising the debt ceiling.
- Sprache
-
Englisch
- Erschienen in
-
Series: Staff Report ; No. 783
- Klassifikation
-
Wirtschaft
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
National Debt; Debt Management; Sovereign Debt
Economic History: Financial Markets and Institutions: U.S.; Canada: 1913-
- Thema
-
debt ceiling
monetization of gold
U.S. Treasury
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Garbade, Kenneth D.
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of New York
- (wo)
-
New York, NY
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
24.03.2023, 09:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Garbade, Kenneth D.
- Federal Reserve Bank of New York
Entstanden
- 2016
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