Credibility and Nominal Debt : Exploring the Role of Maturity in Managing Inflation

Exploring the Role of Maturity in Managing Inflation

Nopic
This paper focuses on the role of debt maturity in managing the government's incentives to use opportunistic inflation to reduce the ex post real value of its nominal liabilities. The maturity structure of government debt is shown to be a powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the... READ MORE...

Publication date: September 1989
ISBN 9781451958508
$10.00

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Publication date: September 1989

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