"Unfunded Liabilities" and Uncertain Fiscal Financing

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Perturbation methods for Markov‐switching dynamic stochastic general equilibrium models (2016, background): “…monetary policy and macroeconomic time series (Schorfheide (2005), Davig and Doh (2008), Liu, Waggoner, and Zha (2011), and Bianchi (2010)) and in modeling the expected effects of future fiscal policy changes (Davig, Leeper, and Walker (2010, 2011),Bi and Traum (2012), Bianchi and Melosi (2013)).”
Monetary Science, Fiscal Alchemy ∗ (2010, unknown): “Leeper et al. (2010) fit post-war U.S. time series to a conventional neo-classical growth model, extended to include substantial fiscal detail: government purchases and transfers and proportional taxes levied against capital and labor income and against consumption expenditures.”
Fiscal Policies and Asset Prices (2012, unknown): “With Epstein and Zin (1989) utility, our household is very averse to such expected consumption adjustments, as reflected by the significant move of the stochastic discount factor.”
Inflation and the Fiscal Limit (2010, background): “As in Davig et al. (2010), we assume the probability of hitting the fiscal limit, pLt, follows a logistic function pL,t ¼ expðZ0þZ1ðtt 1 t ÞÞ 1þexpðZ0þZ1ðtt 1 t ÞÞ , ð15Þ where Z1o0.”
Inequality, Leverage and Crises: The Case of Endogenous Default (2013, unknown): “[17] Davig, T.”