Debt Limits and the Structure of Public Debt /:
This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the model to different country fundamentals, it is clear that there is no one-size-fits-all ap...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Series: | IMF working paper ;
WP/17/117. |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the model to different country fundamentals, it is clear that there is no one-size-fits-all approach to optimal instrument design. For instance, low income countries may find benefit in issuing local currency debt; while in advanced economies debt tolerance can be substantially enhanced through issuing GDP-linked bonds. By looking at the marginal impact of these instruments, the paper also provides insight into the optimal portfolio compostion. |
| Physical Description: | 1 online resource (22) |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 1484301080 9781484301081 |
Staff View
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| 520 | 3 | |a This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the model to different country fundamentals, it is clear that there is no one-size-fits-all approach to optimal instrument design. For instance, low income countries may find benefit in issuing local currency debt; while in advanced economies debt tolerance can be substantially enhanced through issuing GDP-linked bonds. By looking at the marginal impact of these instruments, the paper also provides insight into the optimal portfolio compostion. | |
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| illustrated | Not Illustrated |
| indexdate | 2025-03-18T14:23:29Z |
| institution | BVB |
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| language | English |
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| spelling | Pienkowski, Alex, author. http://id.loc.gov/authorities/names/no2015030898 Debt Limits and the Structure of Public Debt / by Alex Pienkowski. [Washington, D.C.] : International Monetary Fund, [2017] 1 online resource (22) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper ; WP/17/117 Includes bibliographical references and index. Print version record. Cover; Contents; I. Background; II. Model; III. Calibration; IV. Results; V. Conclusion; References; Annex. This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the model to different country fundamentals, it is clear that there is no one-size-fits-all approach to optimal instrument design. For instance, low income countries may find benefit in issuing local currency debt; while in advanced economies debt tolerance can be substantially enhanced through issuing GDP-linked bonds. By looking at the marginal impact of these instruments, the paper also provides insight into the optimal portfolio compostion. Debts, Public Management. Dettes publiques Gestion. BUSINESS & ECONOMICS Public Finance. bisacsh Debts, Public Management fast has work: Debt Limits and the Structure of Public Debt (Text) https://id.oclc.org/worldcat/entity/E39PCFBpX386vCyFPR3xbydQmd https://id.oclc.org/worldcat/ontology/hasWork Print version: Pienkowski, Alex. Debt Limits and the Structure of Public Debt. Washington, D.C. : International Monetary Fund,2017 9781484300657 IMF working paper ; WP/17/117. http://id.loc.gov/authorities/names/no89010263 |
| spellingShingle | Pienkowski, Alex Debt Limits and the Structure of Public Debt / IMF working paper ; Cover; Contents; I. Background; II. Model; III. Calibration; IV. Results; V. Conclusion; References; Annex. Debts, Public Management. Dettes publiques Gestion. BUSINESS & ECONOMICS Public Finance. bisacsh Debts, Public Management fast |
| title | Debt Limits and the Structure of Public Debt / |
| title_auth | Debt Limits and the Structure of Public Debt / |
| title_exact_search | Debt Limits and the Structure of Public Debt / |
| title_full | Debt Limits and the Structure of Public Debt / by Alex Pienkowski. |
| title_fullStr | Debt Limits and the Structure of Public Debt / by Alex Pienkowski. |
| title_full_unstemmed | Debt Limits and the Structure of Public Debt / by Alex Pienkowski. |
| title_short | Debt Limits and the Structure of Public Debt / |
| title_sort | debt limits and the structure of public debt |
| topic | Debts, Public Management. Dettes publiques Gestion. BUSINESS & ECONOMICS Public Finance. bisacsh Debts, Public Management fast |
| topic_facet | Debts, Public Management. Dettes publiques Gestion. BUSINESS & ECONOMICS Public Finance. Debts, Public Management |
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