Episodes of high inflation are generally accompanied by a shortening of the maturity of nominal debt contracts. This … and the maturity structure of nominal bonds. The model shows that under the presence of a small risk of price … a negative relationship between inflation and maturity. The paper shows evidence of this negative correlation from …

The business cycle dynamics of firms' investment and debt maturity vary across the firm size and age distribution …: Young and small firms have strongly pro-cyclical debt maturity and investment, old and large firms a-cyclical debt maturity … and weakly pro-cyclical investment. This paper explores the importance of firms' debt maturity choices for their …

Evidence shows that firms market time their debt maturity. Specifically, maturity is found to be inversely proportional … the term spread is large and they increase maturity as the term spread decreases. In this article, we build a model … explaining the market timing phenomenon using the trade-off theory of capital structure. Our explanation relies on the balance …

This study develops a novel model of endogenous sovereign debt maturity choice that rationalizes various stylized facts … about debt maturity and the yield spread curve: first, sovereign debt duration and maturity generally exceed one year, and …, output volatility, sudden stops, impatience and risk aversion are key determinants of maturity, both in our model and in the …