@article{jiang2024drives,
  title={What Drives Variation in the US Debt-to-Output Ratio? The Dogs that Did not Bark},
  author={Jiang, Zhengyang and Lustig, Hanno and {Van Nieuwerburgh}, Stijn and Xiaolan, Mindy Z},
  journal={The Journal of Finance},
  year={2024},
  publisher={Wiley Online Library}
}