interactions between public debt management and monetary policy. Although their formal mandates have not changed, recent balance … of debt management offices have usually had a microeconomic focus (viz, minimising longer-term borrowing costs, while … government debt in the hands of the public. This requires more analysis of the macroeconomics of government debt management. A …

Debt management can be used at low interest rates to lower bond yields, to provide bank assets and thereby help …

The present study puts forward a plan for solving the sovereign debt crisis in the euro area (EA) in line with the … significant part of the outstanding sovereign debt (at market prices) of the countries in the EA and convert it to zero …-coupon bonds. No transfers will take place between individual states; taxpayers in any EA country will not be involved in the debt …

This paper investigates whether the funding behaviour of euro area debt management offices (DMOs) changed with the … economic implications of public debt management during the PSPP and its relevance for monetary policy transmission. …

sovereign debt crisis has fundamentally changed the rules of the game in sovereign debt markets, particularly in the euro area … seen dramatic downgrades of their sovereign debt ratings so that they face soaring risk spreads and unsustainably high …

This paper examines the interaction between public debt management and the design of monetary institutions. The … expectations than the use of foreign currency or inflation-indexed debt. If delegation of monetary policy is viable, the optimal … policy is to issue conventional debt. This increases the sensitivity of taxes and output to unexpected inflation, thus …

The present study puts forward a plan for solving the sovereign debt crisis in the euro area (EA) in line with the … significant part of the outstanding sovereign debt (at market prices) of the countries in the EA and convert it to zero …-coupon bonds. No transfers will take place between individual states; taxpayers in any EA country will not be involved in the debt …

This paper surveys the sovereign debt literature and summarizes the political economy trade-offs of seven distinct … mechanisms for achieving debt sustainability. Two mechanisms – financial aid and asset exchange – are often underemphasized or … entirely overlooked even though they can play an important role in sustaining public debt. These two mechanisms may receive …