Does debt management matter?
Clarendon Press, 1992 - Business & Economics - 155 pages
In an age when public officials argue vehemently over the size and importance of the deficit of the United States government, this timely volume analyzes the problems involved with the rapid rise in government debt in countries all over the world since the 1970s. The authors focus on how debt management influences the financial sector as well as elements of the "real" economy such as output, capital formation, and consumption.
What people are saying - Write a review
We haven't found any reviews in the usual places.
The Portfolio Balance Approach to Debt Management
Implementing the Basic Model by Using Historical Data
11 other sections not shown
Other editions - View all
Agell and Persson aggregate analysis approach asset demand asset markets asset returns asset supplies assumption borrowing capital composition of government corporate bond corporate bond yield corporate equity covariance matrix current asset prices data interval debt instruments debt management actions debt management operations debt management policy determination econometric economic activity effects of debt empirical endogenous equation equilibrium estimates exogenous expected returns financial markets Frankel Friedman government bonds government debt management historical household implies increase interest rates intertemporal investment investors issues Journal long-term debt Lucas critique matrix Q Mats Persson maturity composition maturity structure ment monetary policy MPS model outstanding policy derivatives public debt quarterly data real yields relative asset yields relative risk aversion relevant Ricardian equivalence risk aversion Roley serial correlation short-term bonds short-term debt simulation stochastic stochastic processes substitutes term structure Tobin Treasury bill Treasury securities underlying variables variance-covariance matrix vector autoregression wealth effects