This paper investigates whether the funding behaviour of euro area debt management offices (DMOs) changed with the start of the ECB's Public Sector Purchase Programme (PSPP). Our results show that (i) lower yield levels and (ii) PSPP purchases supported higher maturities at issuance. The former...

Hans-Michael Heitmuller The financing of public funds has become a strongly competitive business. Within the EU, national boundaries for this sphere have been formally removed as well as important hindrances to the trade of goods and services. Deregulation and technological innovations have...

This paper examines ways to summarize the maturity structure of public debts using a small number of parameters. We compile a novel dataset of all promised future payments for US and UK government debt from every month since 1869, and more recently for Peru, Poland, Egypt, and Nigeria. We show...