A importância do tamanho, do prazo médio e da estrutura de vencimento para a administração da dívida pública: uma análise a partir dos modelos de Giavazzi-Pagano (1990) e de Calvo-Guidotti (1990)
AbstractThe aim of this paper is to make an analysis that highlights the main characteristics of the Giavazzi-Pagano (1990) and Calvo-Guidotti (1990) models. These models have large importance for the comprehension of how must be management the public debt in an environment of trust crisis and threat of change in exchange regime. In this sense, the above-mentioned models show ways for avoiding the problems of lack of credibility in the conduction of the economic policy. The main result suggests that the extension of the debt is a good strategy for the management of the public debt.
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Bibliographic InfoArticle provided by Instituto de Economia, Universidade Estadual de Campinas (UNICAMP) in its journal Revista Economia e Sociedade.
Volume (Year): 22 (2004)
Issue (Month): (January)
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Public debt; Credibility; Giavazzi-Pagano and Calvo-Guidotti models.;
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- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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