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Management of the Nominal Public Debt Theory and Applications

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  • Pablo Emilio Guidotti
  • Guillermo Calvo

Abstract

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.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 90/115.

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Length: 42
Date of creation: 01 Dec 1990
Date of revision:
Handle: RePEc:imf:imfwpa:90/115

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Cited by:
  1. Santiago Herrera, 2000. "Determinantes y Composición del Endeudamiento Público en Colombia," Research Department Publications, Inter-American Development Bank, Research Department 3105, Inter-American Development Bank, Research Department.

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