Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/70568
Authors: 
Velde, François R.
Year of Publication: 
2009
Series/Report no.: 
Working Paper, Federal Reserve Bank of Chicago 2009-12
Abstract: 
The French government currently honors a very unusual debt contract: an annuity that was issued in 1738 and currently yields 1.20 Euro per year. I tell the story of this unique debt, which serves as an anecdotal but symbolic summary of French public finances since the 18th century.
Subjects: 
life annuities
government debt
default
Bouillon
JEL: 
N13
H63
Document Type: 
Working Paper

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