I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by … maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high, output …

In the conventional literature related to investment decisions, less attention has been paid to the length of maturity … cost at the end of the borrowing period. In this study, the effects of selecting different maturity years on firms … suggest that (1) ceteris paribus an optimum maturity year appears to exist that maximises the NVP, and (2) the change of …

In this paper, we revisit the fiscal theory of the price level (FTPL) within the New Keynesian (NK) model. We show in … which cases the average maturity of government debt matters for the transmission of policy shocks. The central task of this … paper is to shed light on the theoretical predictions of the maturity structure on macro dynamics with an emphasis on model …