Fiscal Hedging and the Yield Curve
收藏NBER2005-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11687
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资源简介：
We identify a novel, fiscal hedging motive that helps to explain why governments issue more expensive, long-term debt. We analyze optimal fiscal policy in an economy with distortionary labor income taxes, nominal rigidities and nominal debt of various maturities. The government in our model can
提供机构：
美国国家经济研究局
创建时间：
2005-10-01
