Inflation Debt and Indexation PDF Download
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Author: Rudiger Dornbusch
Publisher:
ISBN:
Category :
Languages : en
Pages : 334
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Author: Rudiger Dornbusch
Publisher:
ISBN:
Category :
Languages : en
Pages : 334
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Author: Mr.Ilan Goldfajn
Publisher: International Monetary Fund
ISBN: 1451922809
Category : Business & Economics
Languages : en
Pages : 29
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Book Description
The paper models the optimal debt management strategy of the public sector when issuing nominal, price-level-indexed and foreign-denominated debt securities. The model predicts that the variance of inflation, the size of the public debt, the variance of the real exchange rate, and the correlation of inflation with public expenditures are the main determinants of public debt management. Using this framework, the paper analyzes the Brazilian experience with indexed debt in the last decade. In particular, it explains the large increase of indexed public debt in Brazil prior to the 1994 Real plan and, thereafter, the steady decline in its use.
Author: United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 204
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Author: Fernando Lefort
Publisher:
ISBN:
Category : Indexation (Economics)
Languages : en
Pages : 332
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Author: Mr.Robert T. Price
Publisher: International Monetary Fund
ISBN: 1451842864
Category : Business & Economics
Languages : en
Pages : 70
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A number of industrialized countries have recently offered inflation-indexed bonds. Some members of another group of countries that had earlier adopted more comprehensive indexation in response to high inflation have taken steps to reduce the scope of indexation in their economies. This paper surveys debt management, monetary policy, and welfare arguments on the use of inflation-indexed bonds, and relates these to the experiences of various issuers. The paper also considers some important design features of indexed bonds.
Author: author Mario Henrique Simonsen
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451980574
Category : Business & Economics
Languages : en
Pages : 28
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We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation rate. Conditions for this to occur are discussed in terms of ad hoc and micro-founded models. Solutions to the indeterminacy problem are examined; one solution is shown to be price indexation of debt instruments.
Author: Mr.Pablo Emilio Guidotti
Publisher: International Monetary Fund
ISBN: 1451848846
Category : Business & Economics
Languages : en
Pages : 34
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This paper examines the relationship between the degree of wage indexation chosen by private agents and the degree of indexation of the public debt. It is shown that the government is likely to respond to an increase in the degree of wage indexation by increasing the portion of the public debt that is indexed. By contrast, the effect of an increase in public debt indexation on the degree of wage indexation is ambiguous. In equilibrium, depending on the sources of shocks to the economy, the degree of wage indexation may be positively or negatively related to that of debt indexation. This relationship is analyzed both in situations where the policymakers are able to precommit policies and in those where precommitment is not possible.
Author: Thelma Liesner
Publisher: Heinemann Educational Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 178
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At head of title: IFS.
Author: Herbert Giersch
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 112
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