Optimal Share of Public Debt in Local Currency

This paper shows analytically the optimal allocation of public debt between local and foreign currency denominated debt. The stark differences in optimal behavior between developed and developing countries are accounted in terms of larger sensitivity of local interest rates to fiscal deficits in the developing world. The presence of excess saving in the developed economies particularly accentuates this observation

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Year of publication:	[2021]
Authors:	Sarmiento, Camilo
Publisher:	[S.l.] : SSRN
Subject:	Öffentliche Schulden \| Public debt \| Theorie \| Theory

Extent:	1 Online-Ressource (5 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 11, 2021 erstellt
Other identifiers:	10.2139/ssrn.3784343 [DOI]
Classification:	H60 - National Budget, Deficit, and Debt. General ; H63 - Debt; Debt Management ; D90 - Intertemporal Choice and Growth. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013240767