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- 07 Oct 2016
- Working Paper Summaries
Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy
- Working Paper
Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy
By: Wenxin Du, Carolin E. Pflueger and Jesse Schreger
Nominal debt provides consumption-smoothing benefits if it can be inflated away during recessions. However, we document empirically that countries with more countercyclical inflation, where nominal debt provides better consumption-smoothing, issue more foreign-currency...
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Keywords:
Sovereign Finance
Du, Wenxin, Carolin E. Pflueger, and Jesse Schreger. "Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy." NBER Working Paper Series, No. 22592, September 2016.
- 20 Sep 2016
- First Look
September 20, 2016
of Monetary Policy By: Du, Wenxin, Carolin E. Pflueger, and Jesse View Details
Keywords:
Sean Silverthorne