| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP351 |
| DP351 Public Confidence and Debt Management: A Model and a Case Study of Italy | |
| Guido Tabellini; Alberto Alesina; Alessandro Prati | |
| 发表日期 | 1989-10-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | High-debt countries may face the risk of self-fulfilling debt crises. If the public expects that in the future the government will be unable to roll over the maturing debt, they may refuse to buy debt today and choose to hold foreign assets. This lack of confidence may then be self-fulfilling. This paper argues that under certain conditions, the occurrence of a confidence crisis is more likely if the average maturity of the debt is short. Conversely, a long and evenly distributed maturity structure may reduce the risk. We consider the recent Italian experience from this perspective. In particular we ask whether recent developments in the market for government debt show signs of unstable public confidence and a risk premium. |
| 主题 | International Macroeconomics |
| 关键词 | Confidence crisis Debt crisis Government debt Public debt |
| URL | https://cepr.org/publications/dp351 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529499 |
| 推荐引用方式 GB/T 7714 | Guido Tabellini,Alberto Alesina,Alessandro Prati. DP351 Public Confidence and Debt Management: A Model and a Case Study of Italy. 1989. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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