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...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2015.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2015/257 |
| 在線閱讀: | Full text available on IMF |