Optimal Fiscal and Monetary Policy with Nominal and Indexed Debt /
This paper highlights the importance of debt composition in setting optimal fiscal and monetary policy over short-run business cycles and in the long run. Nominal debt as state-contingent debt can be a significant policy tool to reduce the volatility of distortionary government policy, thereby reduc...
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| 格式: | 雜誌 |
| 語言: | English |
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Washington, D.C. :
International Monetary Fund,
2003.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2003/225 |
| 在線閱讀: | Full text available on IMF |