Budget Deficits and Debt: Issues and Options

A symposium sponsored by the Federal Reserve Bank of Kansas City
Jackson Hole, Wyoming
August 31-September 2, 1995

• Foreword
  THOMAS M. HOENIG
  President, Federal Reserve Bank of Kansas City

• The Contributors

• Symposium Summary

• Opening Remarks
  ALAN GREENSPAN
  Chairman, Board of Governors of the Federal Reserve System

• Long-Term Tendencies in Budget Deficits and Debt
  PAUL MASSON
  Assistant Director of Research, International Monetary Fund
  MICHAEL MUSSA
  Director of Research, International Monetary Fund

• Commentary
  KUMIHARU SHIGEHARA
  Head of the Department of Economics and Statistics,
  Organization for Economic Cooperation and Development
  Shigehara - Table 2

• General Discussion

• What Do Budget Deficits Do?
  LAURENCE BALL
  Professor, Johns Hopkins University
  N. GREGORY MANKIW
  Professor, Harvard University

• Commentary
  ROBERT A. JOHNSON
  Moore Capital Management

• Commentary
  ALLAN H. MELTZER
  Professor, Carnegie-Mellon University

• General Discussion

• Monetary Policy Implications of Greater Fiscal Discipline
  JOHN B. TAYLOR
  Professor, Stanford University

• Commentary
  MERVYN KING
  Chief Economist and Executive Director, Bank of England

• Commentary
  HELMUT SCHIEBER
  Member of the Directorate, Deutsche Bundesbank

• General Discussion

• The Canadian Experience in Reducing Budget Deficits and Debt
  PAUL MARTIN
  Minister of Finance, Canada

• Solutions for Developed Economies
  ALAN J. AUERBACH
  Professor, University of California, Berkeley

• Solutions for Developed Economies
  ALBERTO GIOVANNINI
  Professor, Columbia University
  
• Solutions for Developed Economies
  PETER PETERSON
  Chairman, The Blackstone Group

• Solutions for Developed Economies
  JURGEN STARK
  Under-Secretary for International Affairs, Ministry of Finance, Germany

• General Discussion

• Public Sector Deficits and Macroeconomic Stability in Developing Economies
  SEBASTIAN EDWARDS
  Chief Economist, Latin American and Caribbean Regional Office, The World Bank
  Edwards - Tables 1, 6, 7, and 9

• Commentary
  JOSE PABLO ARELLANO
  Budget Director, Ministry of Finance, Chile

• Commentary
  JOHN FLEMMING
  Warden, Wadham College, Oxford University

• General Discussion

Overview Panelists

• MARTIN FELDSTEIN
  President, NBER
  
• GORAN PERSSON
  Minister of Finance, Sweden
  
• JAMES D. WOLFENSOHN
  President, The World Bank

• General Discussion

• The Participants

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