Artikel
Performance-Sensitive Government Bonds
Steadily growing debt ratios indicate that current sovereign debt policy lacks important incentives for governments and politicians to fulfill it in a long-term sustainable way. To implement proper incentives, we propose the concept of performance-sensitive government bonds (PSGB) where coupon payments are closely linked to debt policy, giving strong incentives to limit debt levels and to timely restructure the economy. In addition, we show that the current mechanisms used to solve sovereign debt problems within the EMU are not only missing the right incentives but also setting the wrong ones.
- Language
-
Englisch
- Bibliographic citation
-
Journal: Credit and Capital Markets – Kredit und Kapital ; ISSN: 2199-1235 ; Volume: 47 ; Year: 2014 ; Issue: 1 ; Pages: 79-101
- Classification
-
Wirtschaft
Asset Pricing; Trading Volume; Bond Interest Rates
Contingent Pricing; Futures Pricing; option pricing
National Deficit; Surplus
National Debt; Debt Management; Sovereign Debt
- Subject
-
Sovereign debt policy
government bond
incentive
contingent debt
EMU
- Event
-
Geistige Schöpfung
- (who)
-
Bank, Matthias
Kupfer, Alexander
Sendlhofer, Rupert
- Event
-
Veröffentlichung
- (who)
-
Duncker & Humblot
- (where)
-
Berlin
- (when)
-
2014
- DOI
-
doi:10.3790/ccm.47.1.79
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Bank, Matthias
- Kupfer, Alexander
- Sendlhofer, Rupert
- Duncker & Humblot
Time of origin
- 2014
Other Objects (12)
Government Equity-Bonds and Stabilization: A Proposal
Performance-sensitive government bonds - A new proposal for sustainable sovereign debt management
Performance of Bond Ladder Strategies: Evidence from a Period of Low Interest Rates
Bedingte Pflichtwandelanleihen : Contingent Convertible Bonds (CoCo-Bonds) zwischen Bankaufsichts-, Schuld- und Aktienrecht
On Black, Blue and Orange Bonds
Nominal Bonds and Budgetary Discipline in a Currency Union
Bond Yield Spreads and Country Risk: A Lasting Relationship?
State-Contingent Government Debt: a New Database
Rechtssystem und Arbeitsmarkt-Performance
Chaos und sensitive Abhängigkeit in ökonomischen Prozessen
Making a Dishonest Government Credible: The Inflation Tax
Equity-Bond Returns Correlation and the Bond Yield: Evidence of Switching Behaviour from the G7 Markets
Government Equity-Bonds and Stabilization: A Proposal
Performance-sensitive government bonds - A new proposal for sustainable sovereign debt management
Performance of Bond Ladder Strategies: Evidence from a Period of Low Interest Rates
Bedingte Pflichtwandelanleihen : Contingent Convertible Bonds (CoCo-Bonds) zwischen Bankaufsichts-, Schuld- und Aktienrecht
On Black, Blue and Orange Bonds
Nominal Bonds and Budgetary Discipline in a Currency Union
Bond Yield Spreads and Country Risk: A Lasting Relationship?
State-Contingent Government Debt: a New Database
Rechtssystem und Arbeitsmarkt-Performance
Chaos und sensitive Abhängigkeit in ökonomischen Prozessen
Making a Dishonest Government Credible: The Inflation Tax
Equity-Bond Returns Correlation and the Bond Yield: Evidence of Switching Behaviour from the G7 Markets
Government Equity-Bonds and Stabilization: A Proposal
Performance-sensitive government bonds - A new proposal for sustainable sovereign debt management
Performance of Bond Ladder Strategies: Evidence from a Period of Low Interest Rates
Bedingte Pflichtwandelanleihen : Contingent Convertible Bonds (CoCo-Bonds) zwischen Bankaufsichts-, Schuld- und Aktienrecht
On Black, Blue and Orange Bonds
Nominal Bonds and Budgetary Discipline in a Currency Union
Bond Yield Spreads and Country Risk: A Lasting Relationship?
State-Contingent Government Debt: a New Database
Rechtssystem und Arbeitsmarkt-Performance
Chaos und sensitive Abhängigkeit in ökonomischen Prozessen
Making a Dishonest Government Credible: The Inflation Tax