-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by … low, or a cross default more likely. These predictions are consistent with empirical evidence. -- Debt ; maturity …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …

- term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … interior maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high …

-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high, output …

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 … set of more than 9,000 individual Eurozone government debt issues between 1999 and 2015, I find that governments increase …

-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high, output …

I analyze how lack of commitment affects the maturity structure of sovereign debt. Ex post, the government trades off … the gains from default induced redistribution against the cost of defaulting. Ex ante, the government issues debt of …-distorting. The optimal maturity structure minimizes the expected costs due to opportunistic behavior ex post. It matches the maturity …

-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high, output …

-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high, output …