01584cas a2200241 a 4500 AALejournalIMF010028 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451958508 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Credibility and Nominal Debt : Exploring the Role of Maturity in Managing Inflation. Washington, D.C. : International Monetary Fund, 1989. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper focuses on the role of debt maturity in managing the government's incentives to use opportunistic inflation to reduce the ex post real value of its nominal liabilities. The maturity structure of government debt is shown to be a powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the distortions introduced by time inconsistency on taxation policies. The nature of the optimal policy is shown to be heavily dependent on the type of precommitment enjoyed by policymakers. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1989/073 Full text available on IMF http://elibrary.imf.org/view/journals/001/1989/073/001.1989.issue-073-en.xml IMF e-Library