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last decade. In particular, it explains the large increase of indexed public debt in Brazil prior to the 1994 Real plan and …
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In this work I analyze the model proposed by Goldfajn (2000) to study the choice of the denomination of the public debt. The main purpose of the analysis is pointing out possible reasons why new em pirical evidence provided by Bevilaqua, Garcia and Nechio (2004), regarding a more recent time...
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This paper presents a simple model in which debt management stabilizes the debt-to-GDP ratio in face of shocks to real returns and output growth and thus supports fiscal restraint in ensuring sustainability. The optimal composition of public debt is derived by looking at the relative impact of...
Persistent link: https://www.econbiz.de/10002593121
This paper presents a simple model in which debt management stabilizes the debt-to-GDP ratio in face of shocks to real returns and output growth and thus supports fiscal restraint in ensuring sustainability. The optimal composition of public debt is derived by looking at the relative impact of...
Persistent link: https://www.econbiz.de/10002576712