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Long-Term Interest Rates and Public Debt Maturity

Sakalauskaite, Ieva; Beetsma, Roel; Giuliodori, Massimo - CESifo - 2013

the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect …

Persistent link: https://www.econbiz.de/10010697222

Long-Term Interest Rates and Public Debt Maturity

Sakalauskaite, Ieva - 2013

the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect …

Persistent link: https://www.econbiz.de/10013075134

Asset Pricing with Uncertain Betas : A Long-Term Perspective

Gollier, Christian - 2013

How should one evaluate investment projects whose CCAPM betas are uncertain? This question is particularly crucial for projects yielding long-lasting impacts on the economy, as is the case for example for many green investments. We define the notion of a certainty equivalent beta. We show that...

Persistent link: https://www.econbiz.de/10013087728

Testing Uncovered Interest Rate Parity Using LIBOR

Omer, Muhammad - 2013

to the long-run equilibrium is proportional to the maturity of the underlying instrument …

Persistent link: https://www.econbiz.de/10013090772

The Economic Consequences of Rising U.S. Government Debt : Privileges at Risk

Bohn, Henning - 2021

maturity of U.S. public debt – over $2.5 trillion maturing in 2010 – investor expectations are critical. Excessive debts …

Persistent link: https://www.econbiz.de/10013316205

Debt Maturity without Commitment

Niepelt, Dirk - 2021

I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by … maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high, output …

Persistent link: https://www.econbiz.de/10013316425

International Credit Flows and Pecuniary Externalities

Brunnermeier, Markus Konrad - 2015

This paper develops a dynamic two-country neoclassical stochastic growth model with incomplete markets. Short-term credit flows can be excessive and reverse suddenly. The equilibrium outcome is constrained inefficient due to pecuniary externalities. First, an undercapitalized country borrows too...

Persistent link: https://www.econbiz.de/10013028913