NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

1050 Massachusetts Avenue, Cambridge, MA 02138

NINETEENTH ANNUAL MACROECONOMICS CONFERENCE

April 2-3, 2004

The Royal Sonesta Hotel

Cambridge, MA

FEDERAL GOVERNMENT DEBT AND INTEREST RATES

ERIC ENGEN

American Enterprise Institute

R. GLENN HUBBARD

Columbia University and NBER

Discussants: JONATHAN PARKER, Princeton University and NBER

MATTHEW SHAPIRO, University of Michigan and NBER