Does debt management matter?
著者
書誌事項
Does debt management matter?
（FIEF studies in labour markets and economic policy）
Clarendon Press , Oxford University Press, 1992
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注記
Includes bibliographical references and index
内容説明・目次
内容説明
This third volume from the Swedish Trade Union Institute for Economic Research, FIEF, looks at the problems of debt management. In the mid-1970s, after the first oil crisis, many countries began to run larger deficits on government budgets than earlier during the postwar period. This growth of government debt has occurred concomitantly with a development, liberalization, and sophistication of capital markets. In fact, these latter events have probably been a prerequisite for the growing government indebtedness. The growth of public debt has stimulated the interest of academic economists. In recent years there has been a discussion of the debt burden of underdeveloped countries and the neutrality of total government debt in more advanced economies. However, the possible effects of the management of a given debt on real capital formation via portfolio crowding-out or crowding-in has been relatively neglected. This is why this volume is fully devoted to the subject of debt management, focusing particularly on how debt management influences the financial sector and elements of the "real" economy such as output, capital formation, and consumption.
目次
- Part 1 Does debt management matter?, Jonas Agell and Mats Persson: some general concepts
- the portfolio balance approach to debt management
- implementing the basic model by using historical data
- an alternative approach to the covariance matrix
- how returns adjust - the effects of endogenous prices
- comments, Jeffrey A. Frankel and Benjamin M. Friedman. Part 2 Debt management policy, interest rates and economic activity, Benjamin M. Friedman: debt management, interest rates and asset prices
- a model of interest rates and economic activity
- empirical assessment of the effects of debt management policies
- comment, Staffan Viotti.
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