Debt Maturity : Does It Matter for Fiscal Space? /
This paper examines how debt maturity affects the debt limit, defined as the maximum amount of debt a government can afford without defaulting. We develop a model where investors are risk neutral, the primary balance is stochastic but exogenous, and default occurs solely due to the government's...
| Main Author: | |
|---|---|
| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2015.
|
| Series: | IMF Working Papers; Working Paper ;
No. 2015/257 |
| Online Access: | Full text available on IMF |