| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3944 |
| 来源ID | Working Paper 3944 |
| The Debt Burden and Debt Maturity | |
| Alessandro Missale; Olivier Jean Blanchard | |
| 发表日期 | 1991-12-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | At low and moderate levels of government debt, there appears to be little relation between the level of debt and its maturity. But at high levels of debt, a strong inverse relation emerges. We start the paper by documenting this inverse relation for those OECD Countries which have reached very high levels of debt. We then provide a theory of the joint movements of debt and maturity which can explain both sets of facts. It is based on the idea that, at high levels of debt, the government may need to decrease the maturity of the debt as debt increases, in order to maintain the credibility of its anti-inflation stance. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Fiscal Policy |
| URL | https://www.nber.org/papers/w3944 |
| 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/561282 |
| 推荐引用方式 GB/T 7714 | Alessandro Missale,Olivier Jean Blanchard. The Debt Burden and Debt Maturity. 1991. |
| 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 | ||
| w3944.pdf（857KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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