Board of Governors of the Federal Reserve System

debt-to-GDP ratios increase and so do spreads suggesting that government...Debt/GDP O 7% 7% 9% 6% Mean Debt/GDP P 6% 6% 8% 5% Mean Spread O 99 103

debt ceiling resolution, continued large Treasury coupon issuance, and...GDP) growth had moderated in the first half of the year. Although the

yields—to affect and reflect economic conditions. We also impose cointegration...debt risk. JEL Classification Numbers: C32, E32, E42, E52. ∗The views

debt relative to GDP. Second, we find that a rise in income inequality...assets-to-GDP* Log Diff. Financial Accounts of the U.S. Insurer assets-to-GDP

GDP) has likely slowed in the second half of 2025 from its fast pace in...GDP, so a slowdown in spending has dramatic implications for GDP growth

debts relative to GDP. Business debt-to-GDP and gross leverage of public...debt-servicing costs. The household debt-to-GDP ratio continued to decline

debt-to-GDP ratios of around 80 percent. But the nonlinearities they find...debt-to-GDP ratio even increases materially from today's level. Under

GDP since the November report, leading to a modest decline in the debt-to-GDP...debt-to-GDP ratio compared to the business debt-to-GDP ratio (figure 2.2

debt issuances accelerated. As of 2020 Q2, the HD and BD debt-to-GDP ratios...debt-to-GDP ratios Note: The shaded bars indicate periods of business

debt. For instance, Mian et al. (2022) study the issue of debt sustainability...debt-to-GDP ratio on longer-run real interest rates ranges from 1 to 6