Publication:
Coordinating Public Debt Management with Fiscal and Monetary Policies : An Analytical Framework

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dc.contributor.authorTogo, Eriko
dc.date.accessioned2012-06-07T15:07:48Z
dc.date.available2012-06-07T15:07:48Z
dc.date.issued2007-09
dc.description.abstractThis paper proposes a sovereign asset and liability management framework for analyzing the inter-relationships between debt management, fiscal and monetary policies. It illustrates the consequences of uncoordinated policy mix and extends Sargent and Wallace (1981 and 1993) by including debt management. Examples of policy games played by fiscal, monetary, and debt management authorities reinforce the importance of policy separation and coordination to prevent domination by one authority over another which could lead to inconsistent policy mix.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/09/8389316/coordinating-public-debt-management-fiscal-monetary-policies-analytical-framework
dc.identifier.doi10.1596/1813-9450-4369
dc.identifier.urihttps://hdl.handle.net/10986/7389
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4369
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAMOUNT OF DEBT
dc.subjectASSET LIABILITY MANAGEMENT
dc.subjectASSET PRICES
dc.subjectBALANCE SHEETS
dc.subjectBANK BALANCE SHEET
dc.subjectBANK POLICY
dc.subjectBANKING SECTOR
dc.subjectBINDING CONSTRAINT
dc.subjectBOND
dc.subjectBOND ISSUANCE
dc.subjectBONDS
dc.subjectBUDGET CONSTRAINT
dc.subjectBUDGET DEFICIT
dc.subjectBUDGET DEFICITS
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectBUYBACKS
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL LOSSES
dc.subjectCAPITAL MARKETS
dc.subjectCENTRAL BANK
dc.subjectCOMMITMENT DEVICE
dc.subjectCOMPOSITION OF DEBT
dc.subjectCONFLICT OF INTEREST
dc.subjectCONTINGENT LIABILITIES
dc.subjectCREDIBILITY
dc.subjectCREDITOR
dc.subjectDEBT BURDEN
dc.subjectDEBT COMPOSITION
dc.subjectDEBT CRISIS
dc.subjectDEBT INSTRUMENT
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT ISSUANCE
dc.subjectDEBT LEVEL
dc.subjectDEBT LEVELS
dc.subjectDEBT MANAGEMENT AUTHORITIES
dc.subjectDEBT MANAGEMENT DEPARTMENT
dc.subjectDEBT MANAGEMENT POLICIES
dc.subjectDEBT MANAGEMENT POLICY
dc.subjectDEBT MANAGEMENT RESPONSIBILITIES
dc.subjectDEBT MANAGEMENT STRATEGY
dc.subjectDEBT MANAGER
dc.subjectDEBT MANAGERS
dc.subjectDEBT MATURITY
dc.subjectDEBT OBLIGATIONS
dc.subjectDEBT PORTFOLIO
dc.subjectDEBT SERVICE
dc.subjectDEBT SERVICE PAYMENTS
dc.subjectDEBT SERVICING
dc.subjectDEBT SERVICING COST
dc.subjectDEBT SERVICING COSTS
dc.subjectDEBT STRATEGY
dc.subjectDEBT STRUCTURE
dc.subjectDEBT STRUCTURES
dc.subjectDEBT SWAPS
dc.subjectDECENTRALIZATION
dc.subjectDEGREE OF RISK
dc.subjectDEVALUATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISCOUNT RATE
dc.subjectDOMESTIC BONDS
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKET
dc.subjectDOMESTIC INTEREST RATES
dc.subjectDOMESTIC MARKET
dc.subjectEFFICIENT MARKET
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEVOLUTION OF DEBT
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE REGIME
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXTERNAL DEBT
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SHOCK
dc.subjectFISCAL AUTHORITIES
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED EXCHANGE RATE
dc.subjectFIXED RATE
dc.subjectFLOATING RATE
dc.subjectFLOATING RATE DEBT
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY DEBT
dc.subjectFOREIGN CURRENCY EXPOSURE
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKET
dc.subjectGOVERNMENT ASSETS
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT DEBT MARKETS
dc.subjectGOVERNMENT DEFICITS
dc.subjectGOVERNMENT EXPENDITURE
dc.subjectGOVERNMENT FINANCE
dc.subjectGOVERNMENT FINANCES
dc.subjectGOVERNMENT PAPER
dc.subjectGOVERNMENT POLICY
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SPENDING
dc.subjectHEDGES
dc.subjectINCOME
dc.subjectINCOME TAXES
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectINFLATION TARGET
dc.subjectINFLATIONARY EXPECTATIONS
dc.subjectINITIAL DEBT
dc.subjectINSTITUTIONAL ARRANGEMENTS FOR DEBT MANAGEMENT
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE PREMIUM
dc.subjectINTEREST COST
dc.subjectINTEREST COSTS
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE POLICIES
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINVESTING
dc.subjectLESS DEVELOPED ECONOMIES
dc.subjectLEVEL OF DEBT
dc.subjectLIABILITY
dc.subjectLIABILITY MANAGEMENT
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY CRISIS
dc.subjectLOCAL CURRENCY
dc.subjectLONG-TERM DEBT
dc.subjectLONG-TERM INTEREST
dc.subjectLONG-TERM INTEREST RATES
dc.subjectMACROECONOMIC CRISES
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC RISKS
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMARGINAL UTILITY OF CONSUMPTION
dc.subjectMARKET FOR GOVERNMENT SECURITIES
dc.subjectMATURITIES
dc.subjectMONETARY AUTHORITIES
dc.subjectMONETARY AUTHORITY
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectNATIONAL DEBT
dc.subjectNATIONAL DEBT OFFICE
dc.subjectNATIONAL SAVINGS
dc.subjectNATIONAL TREASURY
dc.subjectNEGATIVE SHOCK
dc.subjectNEGATIVE SHOCKS
dc.subjectOPEN MARKET
dc.subjectOUTPUT
dc.subjectPAYMENT OBLIGATIONS
dc.subjectPOLICY CREDIBILITY
dc.subjectPOLICY RESPONSE
dc.subjectPORTFOLIO
dc.subjectPRICE STABILITY
dc.subjectPRIMARY MARKET
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectRATES OF RETURN
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATES
dc.subjectRESERVE
dc.subjectRESERVE REQUIREMENTS
dc.subjectRESERVES
dc.subjectRETURN ON ASSET
dc.subjectRETURNS
dc.subjectRISK AVERSE INVESTOR
dc.subjectRISK AVERSION
dc.subjectRISK MANAGEMENT
dc.subjectRISK PREMIUM
dc.subjectRISK PREMIUMS
dc.subjectRISKY ASSET
dc.subjectSECONDARY MARKET
dc.subjectSECURITIES
dc.subjectSEIGNIORAGE
dc.subjectSHORT MATURITY
dc.subjectSHORT TERM DEBT
dc.subjectSHORT-TERM BORROWING
dc.subjectSHORT-TERM DEBT
dc.subjectSHORT-TERM INTEREST RATES
dc.subjectSOLVENCY
dc.subjectSOVEREIGN DEBT
dc.subjectSTABILIZATION POLICY
dc.subjectSTATE CONTINGENT DEBT
dc.subjectSTOCK OF DEBT
dc.subjectSWAPS
dc.subjectTAX
dc.subjectTAX POLICY
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTREASURY
dc.subjectUNDERDEVELOPED DEBT MARKET
dc.subjectVIRTUOUS CYCLE
dc.subjectVOLATILITY
dc.titleCoordinating Public Debt Management with Fiscal and Monetary Policies : An Analytical Frameworken
dspace.entity.typePublication
okr.crossref.titleCoordinating Public Debt Management With Fiscal And Monetary Policies : An Analytical Framework
okr.date.doiregistration2025-04-10T10:42:52.097813Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2007/09/8389316/coordinating-public-debt-management-fiscal-monetary-policies-analytical-framework
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid724711468313861120
okr.identifier.doi10.1596/1813-9450-4369
okr.identifier.externaldocumentum000158349_20070928133057
okr.identifier.internaldocumentum8389316
okr.identifier.reportWPS4369
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/09/28/000158349_20070928133057/Rendered/PDF/WPS4369.pdfen
okr.topicEconomic Theory and Research
okr.topicInternational Economics and Trade::External Debt
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPublic Sector Economics and Finance
okr.topicInternational Economics and Trade
okr.topicMacroeconomics and Economic Growth
okr.topicPublic Sector Development
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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