Public Debt Sustainability and Management in a Compound Option Framework /
This paper introduces the Asset and Liability Management (ALM) compound option model. The model builds on the observation that the public sector net worth in a multi-period setting corresponds to the value of an option on an option on total government assets. Hence, the ALM compound option model is...
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| 格式: | 杂志 |
| 语言: | English |
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Washington, D.C. :
International Monetary Fund,
2010.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2010/002 |
| 在线阅读: | Full text available on IMF |