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|c 5.00 USD
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|z 9781484300657
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Pienkowski, Alex.
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|a Debt Limits and the Structure of Public Debt /
|c Alex Pienkowski.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2017.
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| 300 |
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|a 1 online resource (21 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the model to different country fundamentals, it is clear that there is no one-size-fits-all approach to optimal instrument design. For instance, low income countries may find benefit in issuing local currency debt; while in advanced economies debt tolerance can be substantially enhanced through issuing GDP-linked bonds. By looking at the marginal impact of these instruments, the paper also provides insight into the optimal portfolio compostion.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2017/117
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2017/117/001.2017.issue-117-en.xml
|z IMF e-Library
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