The Sustainable Debts of Philip II: A Reconstruction of Spain's Fiscal Position, 1560-1598

The defaults of Philip II have attained mythical status as the origin of sovereign debt crises. Four times during his reign the king failed to honor his debts and had to renegotiate borrowing contracts. In this paper, we reassess the fiscal position of Habsburg Spain. New archival evidence allows us to derive comprehensive estimates of debt and revenue. These show that primary surpluses were sufficient to make the king's debt sustainable in most scenarios. Spain's debt burden was manageable up to the 1580s, and its fiscal position only deteriorated for good after the defeat of the "Invincible Armada." We also estimate fiscal policy reaction functions, and show that Spain under the Habsburgs was at least as "responsible" as the US in the 20th century or as Britain in the 18th century. Our results suggest that the outcome of uncertain events such as wars may influence on a history of default more than strict adherence to fiscal rules.

Report Letter for Iowa State University of Science and Technologies various bond and note agreements, September 29, 2006

State University Audit Report - Report Letter

Leading Double Lives: The History of the Double House in Des Moines, 2005

How people choose to live depends on a variety of social and economic circumstances. Single family dwellings, extended family compounds, and communal apartment blocks are all forms of residential architecture that have ancient roots and occur in every culture. Each form both reflects and affects the living styles of the people who reside there. The double house, which shelters two families in units separated by a wall or floor, balances the convenience of an apartment with the psychological comforts of a home. During the mid to late nineteenth and early twentieth centuries in the United States, the double house was hugely popular in some cities, such as Minneapolis and Milwaukee, but only a minimal presence in Des Moines

Academic Building Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report

Dormitory and Dining Services Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report

Hilton Coliseum Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report

Recreational Facility Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statement and Supplementary Information, June 30, 2006

State University Audit Report

Student Health Facility Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statement and Supplementary Information, June 30, 2006

State University Audit Report

Utility System Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report

Telecommunications Facilities Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report

Parking System Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Reports, Basic Financial Statements and Supplemental Information, June 30, 2006

State University Audit Report

Indoor Multipurpose Use and Training Facility Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report

Regulated Materials Facility Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statement and Supplementary Information, June 30, 2006

State University Audit Report

Memorial Union Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report