Missale, Alessandro; Giavazzi, Francesco; Benigno, Pierpaolo - National Bureau of Economic Research (NBER) - 1997
This paper provides evidence on the behavior of public debt managers during fiscal" stabilizations in OECD countries …-term interest rate and the higher the" volatility of short-term interest rates. We show that this debt issuing strategy is … consistent with" optimal debt management if information between the government and private investors is" asymmetric, as is …