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Staff Working Papers describe research in progress by the author( s) and are published to elicit comments and to further debate. D- 60311 Frankfurt am Main,. A joint econometric model of macroeconomic and term. The views expressed here are those of the authors, not necessarily those of others in the Federal Reserve System. John Barrdear and Michael Kumhof. Macroeconomics research papers - Rondy- Forestier Overall, the macroeconomic consequences of student debt cancellation demonstrate that a reorientation of US higher education policy can include ambitious policy proposals like a total cancellation of all outstanding student loan debt.

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