coordinating public debt management with fiscal and monetary policies: an analytical framework

coordinating public debt management with fiscal and monetary policies: an analytical framework PDF

Author: Eriko Togo

Publisher: World Bank Publications

Published: 2012

Total Pages: 37

ISBN-13:

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This paper proposes a sovereign asset and liability management framework for analyzing the inter-relationships between debt management, fiscal and monetary policies. It illustrates the consequences of uncoordinated policy mix and extends Sargent and Wallace (1981 and 1993) by including debt management. Examples of policy games played by fiscal, monetary, and debt management authorities reinforce the importance of policy separation and coordination to prevent domination by one authority over another which could lead to inconsistent policy mix.

Coordinating Public Debt and Monetary Management

Coordinating Public Debt and Monetary Management PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1997-04-15

Total Pages: 444

ISBN-13: 9781557755551

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Edited by V. Sundararajan, Peter Dattels, and Hans Blommestein, this volume outlines strategies for managing public debt, developing government securities markets, and coordinating those activities with monetary management through legal, administrative, and operational arrangements. Both transition and market economies are surveyed. The analysis draws partly on the literature on the microstructure of markets and auction systems and on selected country experiences.

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1994-12-01

Total Pages: 60

ISBN-13: 1451856776

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In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt management, and the development of supporting institutional and operational arrangements. Key aspects of these arrangements are surveyed.

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