| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6311 |
| 来源ID | Working Paper 6311 |
| Managing the Public Debt in Fiscal Stabilizations: The Evidence | |
| Alessandro Missale; Francesco Giavazzi; Pierpaolo Benigno | |
| 发表日期 | 1997-12-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | This paper provides evidence on the behavior of public debt managers during fiscal" stabilizations in OECD countries over the last two decades. We find that debt maturity tends to" lengthen the more credible the program, the lower the long-term interest rate and the higher the" volatility of short-term interest rates. We show that this debt issuing strategy is consistent with" optimal debt management if information between the government and private investors is" asymmetric, as is usually the case at the outset of a stabilization attempt when private investors" may lack full confidence in the announced budget cuts. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates |
| URL | https://www.nber.org/papers/w6311 |
| 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/563820 |
| 推荐引用方式 GB/T 7714 | Alessandro Missale,Francesco Giavazzi,Pierpaolo Benigno. Managing the Public Debt in Fiscal Stabilizations: The Evidence. 1997. |
| 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 | ||
| w6311.pdf（1524KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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