TY  - BOOK
AU  - Guidotti,Pablo Emilio
AU  - Calvo,Guillermo
AU  - Guidotti,Pablo Emilio
TI  - Management of the Nominal Public Debt Theory and Applications
T2  - IMF Working Papers; Working Paper
SN  - 1451942796 :
SN  - 1018-5941
PY  - 1990///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Debt Maturity
KW  - imf
KW  - Government Debt
KW  - Government Expenditure
KW  - Increase in Government Expenditure
KW  - Public Debt
KW  - Ireland
KW  - Italy
KW  - United States
N2  - Optimal management of the public debt is explored in a context where economic policy is continuously revised because, when the public debt is non-indexed, policy-makers are tempted to use inflation in order to reduce the real value of the public debt. The model's implications are explored following two approaches. First, the effects of various exogenous disturbances are examined by means of numerical simulations. Secondly, the analysis explores-for Italy, Ireland, and the United States-if the model's implications concerning the maturity structure of government debt are consistent with actual experience
UR  - http://elibrary.imf.org/view/IMF001/04508-9781451942798/04508-9781451942798/04508-9781451942798.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451942798
ER  -