Search
- Working Paper
The U.S. dollar’s status as an international currency has contributed to persistent U.S. trade deficits and, by lowering interest rates, to increased access to credit for U.S. households, businesses, and the federal government.
- Working Paper
This paper presents a risk-neutral approach that CBO uses to inform its estimates of the fair-value cost of mortgage obligations.
- Working Paper
This paper describes the methods and data that CBO uses to estimate the cost of market risk for three categories of federal credit programs: housing and real estate loans, student loans and other consumer loans, and commercial loans.
- Working Paper
This paper explores the practical questions raised by fair-value budgeting: Which government activities would benefit from it? How might it be used? How can agencies estimate fair value without observing market prices for government risks?
- Working Paper
This paper explores the benefits and costs of governmental risk taking in formal models of market imperfections, in which the government serves as an intermediary between different stakeholders in its finances.
- Working Paper
Fair-value budget estimates reflect cash flows that are weighted by the value market participants would place on different scenarios instead of the average of their possible amounts.
- Working Paper
This paper describes CBO’s methods for estimating the costs of the federal terrorism risk insurance program. It also discusses how estimates of the program’s budgetary effects would differ if they were produced using accrual-based measures rather than cash-based measures.
- Working Paper
Learn how CBO projects the budgetary cost of student loans repaid through income-driven plans. This working paper provides information on the characteristics of borrowers in those plans and on the methods used to project borrowers’ earnings, repayment, and resulting forgiveness.
- Working Paper
The costs of federal activities are recorded in the budget mostly on a cash basis. Using accrual accounting for retirement and insurance programs would accelerate the recognition of long-term costs and display the expected costs of new commitments when they were incurred.
- Working Paper
In emerging market economies, governments issue debt denominated both in their own currency and in foreign currencies. This paper examines how the use of those two types of debt affects these economies.