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

DOI10.1016/J.JEDC.2014.05.020MaRDI QIDQ1994599zbMATH OpenOpenAlexFDO

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

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)

Recommendations

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• Markets for inflation-indexed bonds as mechanisms for efficient monetary policy

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)

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

Describes a project that uses

Uses Software

• Dynare

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