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 trap, debt monetization may become an appealing option. However, independent central banks may be able to allay debt …, the Bank of Japan and the ECB in relation to debt dynamics for the United States, Japan, Germany and Italy since the …

. But an extended period of very low long rates and high public debt creates financial stability risks. Interest rate risk … the rise in the ratio of government debt to GDP. Implementing an effective exit strategy will be difficult. Current policy …, for financial stability and for government debt management …

We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In … exposure of banks to the debt issued by the national government. Our results suggest that euro area crisis countries' banks … enlarged their exposure to domestic sovereign debt after innovations related to unconventional monetary policy. Moreover, the …

We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In … exposure of banks to the debt issued by the national government. Our results suggest that euro area crisis countries' banks … enlarged their exposure to domestic sovereign debt after innovations related to unconventional monetary policy. Moreover, the …