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Turkish treasury simulation model for debt strategy analysis

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  • Balibek, Emre
  • Memis, Hamdi Alper

Abstract

Governments raise funds to meet their financing needs using a range of fixed income securities and loans with different maturities, interest rates, and exchange rate structures. Public debt managers need to consider various policy objectives when deciding on the structure of the public liability portfolio. This paper describes a simulation model developed at the Turkish Treasury to assist the decision-making process in debt strategy formulation. The model is used to analyze the medium and long-term consequences of alternative debt management strategies in terms of cost and risk characteristics, and provides key inputs to decision making.

Suggested Citation

  • Balibek, Emre & Memis, Hamdi Alper, 2012. "Turkish treasury simulation model for debt strategy analysis," Policy Research Working Paper Series 6091, The World Bank.
  • Handle: RePEc:wbk:wbrwps:6091
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    References listed on IDEAS

    as
    1. Diebold, Francis X. & Li, Canlin, 2006. "Forecasting the term structure of government bond yields," Journal of Econometrics, Elsevier, vol. 130(2), pages 337-364, February.
    2. Andrea Consiglio & Alessandro Staino, 2012. "A stochastic programming model for the optimal issuance of government bonds," Annals of Operations Research, Springer, vol. 193(1), pages 159-172, March.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Debt Markets; Emerging Markets; Economic Theory&Research; External Debt; Banks&Banking Reform;

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