Public Debt Indexation and Denomination

Released on by Mr.Ilan Goldfajn
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  • Public Debt Indexation and Denomination Book Detail

  • Author : Mr.Ilan Goldfajn
  • Release Date : 1998-02-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 29
  • ISBN 13 : 1451922809
  • File Size : 65,65 MB
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Public Debt Indexation and Denomination by Mr.Ilan Goldfajn PDF Summary

Book Description: The paper models the optimal debt management strategy of the public sector when issuing nominal, price-level-indexed and foreign-denominated debt securities. The model predicts that the variance of inflation, the size of the public debt, the variance of the real exchange rate, and the correlation of inflation with public expenditures are the main determinants of public debt management. Using this framework, the paper analyzes the Brazilian experience with indexed debt in the last decade. In particular, it explains the large increase of indexed public debt in Brazil prior to the 1994 Real plan and, thereafter, the steady decline in its use.

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Public Debt Indexation and Denomination

Public Debt Indexation and Denomination

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The paper models the optimal debt management strategy of the public sector when issuing nominal, price-level-indexed and foreign-denominated debt securities. Th

Debt Limits and the Structure of Public Debt

Debt Limits and the Structure of Public Debt

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This paper provides a tractable framework to assess how the structure of debt instruments—specifically by currency denomination and indexation to GDP—can ra