In search of an independent province for the treasuries: how should public debt be managed?

Article Abstract:

A model was developed to present an alternative approach for the management of public debt. The model, which explains a trade-off between flexibility and regularity needs in debt management, revealed that the appearance of calendars during the existence of low private information returns is directed towards assisting debt managers attain freedom from Central Bank or Treasury control. Another way of gaining management independence is through establishment of a debt-management agency.

Public Finance Activities, Government Bonds, National Government Capital & Loans, Models, Government securities, Debt financing (Corporations), Debt financing, Government lending

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Notes and communications: beyond Maastricht

Article Abstract:

An analysis of European Union countries' budgetary policies taking into accounting the Pact for Stability and Growth objectives is offered. Additional information on Europe's economic performance is included.

Europe, Economic Programs, Administration of Economic Programs, Planning, Economic aspects, Budget, Budgeting, Budgets, Economic policy

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American Boom, European Gloom

Article Abstract:

European economic recovery is compared to that of the United States. The OECD had a good year in 1983, but it was behind the United States. Graphs and a table are given.

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