Time Consistency and Duration of Government Debt: A Model of Quantitative Easing

DOI10.1093/RESTUD/RDAC063MaRDI QIDQ6136987zbMATH OpenOpenAlexFDO

Authors Saroj Bhattarai, Gauti B. Eggertsson, Bulat Gafarov

Publication date 31 August 2023

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1093/restud/rdac063

zbMATH Keywords

government debt maturityquantitative easingsignallingtime-consistent equilibriumzero lower bound

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cited in

(13)

• Default and determinacy under quantitative easing
• The macroeconomic effects of quantitative easing in the euro area: evidence from an estimated DSGE model
• A continuous-time model of sovereign debt
• Scarce collateral, the term premium, and quantitative easing
• Exiting from quantitative easing
• Monetary policy at the zero lower bound and after: a reassessment of quantitative easing and critique of the Federal Reserve's proposed exit strategy
• The impact of quantitative easing on the US term structure of interest rates
• The financial market effects of unwinding the Federal Reserve's balance sheet
• Analyzing linear DSGE models: the method of undetermined Markov states
• Exiting from quantitative easing in an era of large government debt: inflation or default?
• When is government debt accumulation optimal in a liquidity trap?
• Managing the inflation-output trade-off with public debt portfolios
• Estimation and inference of the forecast error variance decomposition for set-identified SVARs

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