We study optimal government debt maturity in a model where investors derive monetary services from holding riskless …

-indexed debt, by a short or a long maturity structure, remains however controversial. In this paper we review the issues of … indexation and debt maturity, discussing in particular the role of the maturity structure in light of integrated financial … strong case can instead be made for a long maturity structure to reduce interest-rate risk and, more importantly, the risk of …

maturity management, as will typically be required to address rollover crisis risk, will be delayed until the end of the …

We develop a model with financial frictions and sovereign default risk where the maturity of public debt is allowed to … crisis depend on the average maturity of the debt portfolio …

Do governments strategically choose debt maturity to fill supply gaps across maturities? Building on a new panel data …-year LTRO in 2011-2012 as an event study, I find that core governments filled the supply gap of longer maturity debt, which …

optimal debt maturity structure and related costs. It is shaped by two financial frictions: limited liability (the country …

We study the interactions between sovereign debt default and maturity choice in a setting with limited commitment for …-term bond market. We show that any attempt to manipulate the existing maturity profile of outstanding long-term bonds generates …