| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5587 |
| 来源ID | Working Paper 5587 |
| A Scorecard for Indexed Government Debt | |
| John Y. Campbell; Robert J. Shiller | |
| 发表日期 | 1996-05-01 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | Within the last five years, Canada, Sweden and New Zealand have joined the ranks of the United Kingdom and other countries in issuing government bonds that are indexed to inflation. Some observers of the experience in these countries have argued that the United States should follow suit. This paper provides an overview of the issues surrounding debt indexation, and it tries to answer three empirical questions about indexed debt. First, how different would the returns on indexed bonds be from the returns on existing US debt instruments? Second, how would indexed bonds affect the government's average financing costs? Third, how might the Federal Reserve be able to use the information contained in the prices of indexed bonds to help formulate monetary policy? The paper concludes with a more speculative discussion of the possible consequences of increased use of indexed debt contracts by the private sector. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Macroeconomics ; Money and Interest Rates |
| URL | https://www.nber.org/papers/w5587 |
| 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/563061 |
| 推荐引用方式 GB/T 7714 | John Y. Campbell,Robert J. Shiller. A Scorecard for Indexed Government Debt. 1996. |
| 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 | ||
| w5587.pdf（2257KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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