Turkish Treasury Simulation Model for Debt Strategy Analysis

Balibek, Emre; Memis, Hamdi Alper

doi:10.1596/1813-9450-6091

Publication:
Turkish Treasury Simulation Model for Debt Strategy Analysis

dc.contributor.author	Balibek, Emre
dc.contributor.author	Memis, Hamdi Alper
dc.date.accessioned	2012-06-29T20:15:57Z
dc.date.available	2012-06-29T20:15:57Z
dc.date.issued	2012-06
dc.description.abstract	Governments raise funds to meet their financing needs using a range of fixed income securities and loans with different maturities, interest rates, and exchange rate structures. Public debt managers need to consider various policy objectives when deciding on the structure of the public liability portfolio. This paper describes a simulation model developed at the Turkish Treasury to assist the decision-making process in debt strategy formulation. The model is used to analyze the medium and long-term consequences of alternative debt management strategies in terms of cost and risk characteristics, and provides key inputs to decision making.	en
dc.identifier	http://documents.worldbank.org/curated/en/2012/06/16375748/turkish-treasury-simulation-model-debt-strategy-analysis
dc.identifier.uri	http://hdl.handle.net/10986/9329
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	Policy Research Working Paper; No. 6091
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo/
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING STANDARDS
dc.subject	ACCRUAL ACCOUNTING
dc.subject	ADVERSE EFFECT
dc.subject	ADVERSE EFFECTS
dc.subject	AMORTIZATION
dc.subject	AUCTION
dc.subject	AUCTIONS
dc.subject	BOND
dc.subject	BOND ISSUANCES
dc.subject	BOND ISSUES
dc.subject	BOND MARKETS
dc.subject	BOND PORTFOLIO
dc.subject	BONDS
dc.subject	BORROWING REQUIREMENT
dc.subject	BORROWING REQUIREMENTS
dc.subject	BORROWING STRATEGIES
dc.subject	BORROWING STRATEGY
dc.subject	BUSINESS CYCLE
dc.subject	BUY-BACKS
dc.subject	BUYBACK
dc.subject	CASH BALANCES
dc.subject	CASH FLOW
dc.subject	CASH FLOWS
dc.subject	CENTRAL BANK
dc.subject	COMPARABLE MATURITY
dc.subject	COMPOSITION OF DEBT
dc.subject	COMPOSITION OF GOVERNMENT DEBT
dc.subject	CONFIDENTIALITY
dc.subject	CONSUMER PRICE INDEX
dc.subject	COUPON
dc.subject	COUPON BOND
dc.subject	COUPON BONDS
dc.subject	COUPON PAYMENT
dc.subject	COUPON PAYMENT DATES
dc.subject	COUPON PAYMENTS
dc.subject	COUPON PERIODS
dc.subject	COUPON RATE
dc.subject	COUPON RATES
dc.subject	CREDIT RATING
dc.subject	CREDITOR
dc.subject	CURRENCY COMPOSITION
dc.subject	CURRENCY RISK
dc.subject	CURRENCY RISKS
dc.subject	DEBT
dc.subject	DEBT DATABASE
dc.subject	DEBT EXCHANGE
dc.subject	DEBT EXCHANGES
dc.subject	DEBT ISSUANCE
dc.subject	DEBT ISSUANCE STRATEGIES
dc.subject	DEBT MANAGEMENT
dc.subject	DEBT MANAGEMENT AGENCY
dc.subject	DEBT MANAGEMENT POLICIES
dc.subject	DEBT PAYMENTS
dc.subject	DEBT REDEMPTION
dc.subject	DEBT REDEMPTIONS
dc.subject	DEBT REPAYMENTS
dc.subject	DEBT SERVICE
dc.subject	DEBT STOCK
dc.subject	DECISION MAKING
dc.subject	DEFAULT CASE
dc.subject	DERIVATIVE INSTRUMENTS
dc.subject	DEVELOPMENT POLICY
dc.subject	DOLLAR VALUE
dc.subject	ECONOMIC POLICY ENVIRONMENT
dc.subject	ENVIRONMENTAL FACTORS
dc.subject	EUROBOND
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATE MOVEMENTS
dc.subject	EXCHANGE RATE REGIME
dc.subject	EXCHANGE RATES
dc.subject	FINANCIAL ASSETS
dc.subject	FINANCIAL CRISES
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCING REQUIREMENT
dc.subject	FIXED COUPON
dc.subject	FIXED EXCHANGE RATE
dc.subject	FIXED INCOME
dc.subject	FIXED INCOME SECURITIES
dc.subject	FIXED RATE
dc.subject	FLOATING EXCHANGE RATE
dc.subject	FLOATING RATE
dc.subject	FLOATING RATE NOTE
dc.subject	FLOATING RATE NOTES
dc.subject	FLOATING-RATE NOTE
dc.subject	FLOATING-RATE NOTES
dc.subject	FOREIGN CURRENCIES
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN CURRENCY DEBT
dc.subject	FORWARD RATES
dc.subject	GDP
dc.subject	GOVERNMENT BOND
dc.subject	GOVERNMENT BOND YIELDS
dc.subject	GOVERNMENT BONDS
dc.subject	GOVERNMENT BORROWING
dc.subject	GOVERNMENT BUDGET
dc.subject	GROSS DEBT
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH RATE
dc.subject	INDEXED BONDS
dc.subject	INFLATION
dc.subject	INFLATION RATE
dc.subject	INFLATION RATES
dc.subject	INFLATION TARGETS
dc.subject	INITIAL DEBT
dc.subject	INSTRUMENT
dc.subject	INSURANCE
dc.subject	INSURANCE PREMIUM
dc.subject	INTEREST COST
dc.subject	INTEREST COSTS
dc.subject	INTEREST EXPENDITURES
dc.subject	INTEREST EXPENSES
dc.subject	INTEREST PAYMENT
dc.subject	INTEREST PAYMENTS
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE RISK
dc.subject	INTEREST RATE VOLATILITY
dc.subject	INTEREST RATES
dc.subject	INTEREST-RATE RISK
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BOND
dc.subject	INTERNATIONAL ECONOMICS
dc.subject	INTERNATIONAL MARKET
dc.subject	INTERNATIONAL MARKETS
dc.subject	INTERNATIONAL SETTLEMENTS
dc.subject	INVESTING
dc.subject	ISSUANCES
dc.subject	LENDER
dc.subject	LEVEL OF DEBT
dc.subject	LEVEL OF RISK
dc.subject	LIABILITY
dc.subject	LIQUID MARKET
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY RISK
dc.subject	LOAN
dc.subject	LOAN PORTFOLIO
dc.subject	LOCAL CURRENCY
dc.subject	LOCAL DEBT
dc.subject	LOCAL MARKETS
dc.subject	LONG-TERM INTEREST
dc.subject	LONG-TERM INTEREST RATE
dc.subject	LONG-TERM INTEREST RATES
dc.subject	MACROECONOMIC ENVIRONMENT
dc.subject	MACROECONOMIC VARIABLES
dc.subject	MARK-TO-MARKET
dc.subject	MARKET CONDITIONS
dc.subject	MARKET CONFIDENCE
dc.subject	MARKET CONSTRAINTS
dc.subject	MARKET DEMAND
dc.subject	MARKET ENVIRONMENT
dc.subject	MARKET EXPECTATIONS
dc.subject	MARKET INSTRUMENTS
dc.subject	MARKET INTEREST
dc.subject	MARKET INTEREST RATES
dc.subject	MARKET RISK
dc.subject	MARKET VALUE
dc.subject	MARKET VOLATILITY
dc.subject	MATURITIES
dc.subject	MATURITY
dc.subject	MATURITY DATE
dc.subject	MONETARY FUND
dc.subject	NATIONAL DEBT
dc.subject	NATIONAL DEBT OFFICE
dc.subject	NATIONAL TREASURY
dc.subject	NOMINAL INTEREST RATE
dc.subject	OUTPUT
dc.subject	OUTPUT GAP
dc.subject	OUTPUTS
dc.subject	OUTSTANDING DEBT
dc.subject	POLICY RESPONSES
dc.subject	PORTFOLIO
dc.subject	PORTFOLIO MANAGEMENT
dc.subject	PORTFOLIO MANAGER
dc.subject	PRINCIPAL PAYMENTS
dc.subject	PRIVATE FINANCIAL INSTITUTIONS
dc.subject	PRIVATIZATION
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC DEBT MANAGEMENT
dc.subject	PUBLIC DEBT MANAGER
dc.subject	PUBLIC DEBT MANAGERS
dc.subject	PUBLIC POLICIES
dc.subject	REAL EXCHANGE RATE
dc.subject	REAL EXCHANGE RATES
dc.subject	REGIME CHANGES
dc.subject	REPAYMENT
dc.subject	RETURN
dc.subject	RETURNS
dc.subject	RISK EXPOSURE
dc.subject	RISK FACTORS
dc.subject	RISK MANAGEMENT
dc.subject	RISK MANAGERS
dc.subject	RISK MEASUREMENT
dc.subject	RISK NEUTRAL
dc.subject	RISK PROFILE
dc.subject	RISK PROFILES
dc.subject	RISK REDUCTION
dc.subject	SECONDARY MARKET
dc.subject	SHORT MATURITIES
dc.subject	SHORT-TERM DEBT
dc.subject	SHORT-TERM INSTRUMENTS
dc.subject	SHORT-TERM INTEREST RATE
dc.subject	SHORT-TERM INTEREST RATES
dc.subject	SOVEREIGN DEBT
dc.subject	TECHNICAL ASSISTANCE
dc.subject	TERM STRUCTURE OF INTEREST RATE
dc.subject	TERM STRUCTURE OF INTEREST RATES
dc.subject	TOTAL DEBT
dc.subject	TREASURY
dc.subject	TREASURY BILL
dc.subject	TREASURY BILLS
dc.subject	USE OF DERIVATIVE
dc.subject	VOLATILITIES
dc.subject	WORLD ECONOMY
dc.subject	YIELD CURVE
dc.subject	YIELD CURVE ESTIMATION
dc.subject	YIELD CURVES
dc.subject	ZERO COUPON
dc.title	Turkish Treasury Simulation Model for Debt Strategy Analysis	en
dspace.entity.type	Publication
okr.date.disclosure	2012-06
okr.doctype	Publications & Research :: Policy Research Working Paper
okr.doctype	Publications & Research
okr.docurl	http://documents.worldbank.org/curated/en/2012/06/16375748/turkish-treasury-simulation-model-debt-strategy-analysis
okr.globalpractice	Macroeconomics and Fiscal Management
okr.globalpractice	Finance and Markets
okr.globalpractice	Trade and Competitiveness
okr.identifier.doi	10.1596/1813-9450-6091
okr.identifier.externaldocumentum	000158349_20120614102731
okr.identifier.internaldocumentum	16375748
okr.identifier.report	WPS6091
okr.language.supported	en
okr.pdfurl	http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/14/000158349_20120614102731/Rendered/PDF/WPS6091.pdf	en
okr.region.administrative	Europe and Central Asia
okr.region.country	Turkiye
okr.topic	Finance and Financial Sector Development :: Debt Markets
okr.topic	Banks and Banking Reform
okr.topic	Private Sector Development :: Emerging Markets
okr.topic	Economic Theory and Research
okr.topic	International Economics and Trade :: External Debt
okr.topic	Macroeconomics and Economic Growth
okr.unit	Development Research Group (DECRG)
okr.volume	1 of 1
relation.isSeriesOfPublication	26e071dc-b0bf-409c-b982-df2970295c87