We propose a clientele-based model of the yield curve and optimal maturity structure of government debt. Clienteles are … generations of agents at different life cycle stages in an overlapping- generations economy. An optimal maturity structure exists …

fiscal theory directly depend on the conditional nominal term premium, giving rise to an optimal debt maturity policy that is …This paper examines how the transmission of government portfolio risk arising from maturity operations depends on the … stance of monetary/fiscal policy. Accounting for risk premia in the fiscal theory allows the government portfolio to affect …

of debt debasement is based on two inputs: the distribution of privately-held nominal debt by maturity, for which we …