New Approaches to a Fiscally-Oriented Debt Management Strategy: Objectives, Instruments, and Risks
AbstractIn 2004, government debt in Germany reached a record level. In view of this, debt servicing represents a considerable part of the government budget. Hence, debt management is of increasing significance. The paper describes the objectives and risks of a fiscally oriented debt management strategy. It then presents the instruments that can be used to mitigate risks. The analysis is augmented with a description of the institutional, organizational, and legal regulations that debt managers in Germany must adhere to.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.
Volume (Year): 61 (2006)
Issue (Month): 4 (February)
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Web page: http://www.mohr.de/fa
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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