Indexed versus nominal government debt under inflation and price-level targeting

DOI10.1016/J.JEDC.2014.05.020zbMATH Open1402.91287OpenAlexW1990318759MaRDI QIDQ1994599FDOQ1994599

Authors: Michael Hatcher 

Publication date: 1 November 2018

Published in: Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL: http://eprints.gla.ac.uk/87631/1/87631.pdf

Recommendations

• Long-Term Debt and Optimal Policy in the Fiscal Theory of the Price Level
• Which improves welfare more: A nominal or an indexed bond?
• Economic Stability and the Choice of the Target Inflation Index
• Quantitative implications of indexed bonds in small open economies
• Markets for inflation-indexed bonds as mechanisms for efficient monetary policy

zbMATH Keywords

inflation riskinflation targetinggovernment debtprice-level targeting

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Dynamic stochastic general equilibrium theory (91B51)

Cites Work

• Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle
• Optimal monetary policy under incomplete markets and aggregate uncertainty: a long-run perspective

Cited In (3)

• The procyclicality of inflation-linked debt
• A note on the nonneutral taxation of indexed government bonds under alternative indexation schemes
• Infinite-maturity public debt and the fiscal theory of the price level

Uses Software

• Dynare

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