Artikel
Confederation debt management since 1970
This paper analyzes the Confederation's debt management. The Confederation actively manages roll over and interest rate risk by increasing bond maturity with increasing marketable debt-to-GDP levels. It further engages in active but asymmetric, one-sided interest rate positioning; i.e., it uses mostly bonds to affect debt maturity and does so only when the interest rate environment is favorable to lock-in interest rates by issuing longer-term bonds. Debt management is mainly driven by marketable debt rather than total debt. Issuing behavior became more regular and demand-oriented during the early 1990s when marketable and total debt increased in tandem.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Swiss Journal of Economics and Statistics ; ISSN: 2235-6282 ; Volume: 155 ; Year: 2019 ; Issue: 15 ; Pages: 1-23 ; Heidelberg: Springer
- Klassifikation
-
Wirtschaft
Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
National Debt; Debt Management; Sovereign Debt
- Thema
-
Government debt
Government debt management
Government debt maturity
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Guggenheim, Basil
Meichle, Mario
Nellen, Thomas
- Ereignis
-
Veröffentlichung
- (wer)
-
Springer
- (wo)
-
Heidelberg
- (wann)
-
2019
- DOI
-
doi:10.1186/s41937-019-0042-6
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Guggenheim, Basil
- Meichle, Mario
- Nellen, Thomas
- Springer
Entstanden
- 2019
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