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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 …
Persistent link: https://www.econbiz.de/10013090821
Debt management can be used at low interest rates to lower bond yields, to provide bank assets and thereby help …
Persistent link: https://www.econbiz.de/10013095335
aggregate debt loads are rendering monetary- and fiscal policy-impaired governments and segments of society insolvent and …
Persistent link: https://www.econbiz.de/10010286538
delegated the determination of collateral eligibility of euro area government debt to private credit rating agencies and … eventually compromised the safe asset status of government debt for most member states. This paper examines how the ECB …
Persistent link: https://www.econbiz.de/10011942216
aggregate debt loads are rendering monetary- and fiscal policy-impaired governments and segments of society insolvent and …
Persistent link: https://www.econbiz.de/10009652087
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 …
Persistent link: https://www.econbiz.de/10011749492
aggregate debt loads are rendering monetary- and fiscal policy-impaired governments and segments of society insolvent and … Policy ; Fiscal Policy ; European Central Bank ; European Monetary Union ; Debt Monetization ; Euro ; Basel ; Sovereign Debt …
Persistent link: https://www.econbiz.de/10009503821
The ongoing policy strategy review presents a unique opportunity for the ECB to examine how to best employ its immense power to fulfil its mandate. Two challenges require urgent attention. First, the “lowflation” problem – the outcome of overly tight policies that allowed inflation to...
Persistent link: https://www.econbiz.de/10012502029
, may be in the long-term interest of a country. Validating default fears and high risk premia on government debt can be a …
Persistent link: https://www.econbiz.de/10011942211
Central banks (CB) around the world are currently exploring the implications of issuing a new form of sovereign currency known as Central Bank Digital Currency (CBDC). Introducing CBDC is a compelling need for governments and CBs alike, as powerful private players have already taken the lead in...
Persistent link: https://www.econbiz.de/10013406502