Coordinating public debt management with fiscal and monetary policies : an analytical framework
AbstractThis paper proposes a sovereign asset and liability management framework for analyzing the inter-relationships between debt management, fiscal and monetary policies. It illustrates the consequences of uncoordinated policy mix and extends Sargent and Wallace (1981 and 1993) by including debt management. Examples of policy games played by fiscal, monetary, and debt management authorities reinforce the importance of policy separation and coordination to prevent domination by one authority over another which could lead to inconsistent policy mix.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 4369.
Date of creation: 01 Sep 2007
Date of revision:
Debt Markets; External Debt; Emerging Markets; Public Sector Economics&Finance; Economic Theory&Research;
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Faut-il nÃ©cessairement minimiser la charge d'intÃ©rÃªt de la dette?
by email@example.com (Le Captain') in Captain Economics on 2012-07-13 12:04:09
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