Optimal maturity of government debt without state contingent bonds

Article Abstract:

The state contingent debt can be synthetically constructed using non-contingent debt of different maturities. The ways how a properly managed maturity structure of the debt allows a Ramsey government to implement the allocation in the absence of state contingent debt are discussed.

United States, Public Finance Activities, National Government Liabilities & Debt, Analysis, National debt, Government securities, Public debts

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The expectations hypothesis of the term structure when interest rates are close to zero

Article Abstract:

Impact of negligible interest rates on the Japanese economy is examined using nonlinear functions.

Japan, Interest Rates, Usage, Economic aspects, Monetary policy, Nonlinear theories

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