| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3135 |
| 来源ID | Working Paper 3135 |
| Public Confidence and Debt Management: A Model and A Case Study of Italy | |
| Alberto Alesina; Alessandro Prati; Guido Tabellini | |
| 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. In the contrary, a long and evenly distributed maturity structure may reduce such a risk. We consider the recent Italian experience from this perspective. In particular we ask whether recent developments in the market for government debt showy signs of unstable public confidence, and of a risk premium. |
| 主题 | Macroeconomics |
| URL | https://www.nber.org/papers/w3135 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560415 |
| 推荐引用方式 GB/T 7714 | Alberto Alesina,Alessandro Prati,Guido Tabellini. Public Confidence and Debt Management: A Model and A Case Study of Italy. 1989. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3135.pdf（940KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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