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Long-term interest rates and public debt maturity
Sakalauskaite, Ieva; Beetsma, Roel; Giuliodori, Massimo - 2013
the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect …
Persistent link: https://www.econbiz.de/10010189835
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Japan's imbalance of payments
Müller-Plantenberg, Nikolas - 2003
rate s response to external imbalances occurred with a delay. Based on the estimated maturity structure of Japan s foreign …
Persistent link: https://www.econbiz.de/10011404619
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The economic consequences of rising US government debt: privileges at risk
Bohn, Henning - 2010
maturity of U.S. public debt - over $2.5 trillion maturing in 2010 - investor expectations are critical. Excessive debts …
Persistent link: https://www.econbiz.de/10003974641
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Managing debt stability
Bacchiocchi, Emanuele (contributor);  … - 2005
two decades. The empirical evidence suggests that the public debt should have a long maturity and a large share of it …
Persistent link: https://www.econbiz.de/10002576712
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FTPL and the maturity structure of government debt in the New-Keynesian model
Liemen, Max Ole; Posch, Olaf - 2022
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 … inflation dynamics. Our results illustrate the role of the maturity of existing debt in the wake of skyrocketing debt …
Persistent link: https://www.econbiz.de/10013285610
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Manufacturing risk-free government debt
Jiang, Zhengyang; Lustig, Hanno; Nieuwerburgh, Stijn van; … - 2021
Governments face a trade-off between insuring bondholders and taxpayers. If the government fully insures bondholders by manufacturing risk-free zero-beta debt, then it cannot also insure taxpayers against permanent macroeconomic shocks over long horizons. Instead, taxpayers will pay more in...
Persistent link: https://www.econbiz.de/10012437854
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How to escape from the debt trap : lessons from the past
Mayer, Thomas; Schnabl, Gunther - 2021
Rising public debt everywhere has raised the question of how to reduce debt again in the future. High public debt also seems to be an impediment for the exit of central banks from ultra-low interest rates and quantitative easing. Historical precedents and proposals have included austerity,...
Persistent link: https://www.econbiz.de/10012514525
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Explaining fluctuations in the thrift savings fund daily balance at U.S. treasury
Skidmore, Mark; Alvayay Torrejón, Camila; Pare, David - 2021
In this paper we document and examine unusual fluctuations in the G-Fund, which is one of five funds available in a voluntary federal government employee retirement savings vehicle called the Thrift Savings Plan. The G-Fund is managed as "internally" held debt by the United States Department of...
Persistent link: https://www.econbiz.de/10012514922
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Climate policy and optimal public debt
Kellner, Maximilian; Runkel, Marco - 2021
This paper analyzes the optimal level of public debt when taxes are used not only for funding public expenditures but also for correcting externalities from climate change. Taking into account externalities implies that the optimal policy deviates from tax smoothing. Provided cumulative marginal...
Persistent link: https://www.econbiz.de/10012421235
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Public debt sustainability and defaults
Guillard, Michel; Kempf, Hubert - 2017
We offer a new methodology for the assessment of public debt sustainability in a stochastic economy when sovereign default taken into account. The default threshold differs from the no-Ponzi condition and depends on the post-default debt recovery rule. We distinguish sustainability and...
Persistent link: https://www.econbiz.de/10011672036