Long-Term Interest Rates and Public Debt Maturity

For a sample of sixteen OECD countries over the period 1980-2007 we show that, for given debt-GDP ratio, an increase in the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect is stronger for countries with higher average inflation or debt.

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Year of publication:	2013
Authors:	Sakalauskaite, Ieva ; Beetsma, Roel ; Giuliodori, Massimo
Institutions:	CESifo
Subject:	debt \| maturity \| long-term interest rates \| inflation \| OECD

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Extent:	application/pdf
Series:	CESifo Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	Number 4408
Classification:	E43 - Determination of Interest Rates; Term Structure Interest Rates ; E44 - Financial Markets and the Macroeconomy ; H62 - Deficit; Surplus ; H63 - Debt; Debt Management ; H68 - Forecasts of Budgets, Deficits, and Debt
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010697222