Home >> FinanzArchiv: Public Finance Analysis, Volume 61, Number 4

New Approaches to a Fiscally Oriented Debt Management Strategy: Objectives, Instruments, and Risks

Author: Rehm, Hannes

Source: FinanzArchiv: Public Finance Analysis, Volume 61, Number 4, December 2005 , pp. 587-608(22)

Publisher: Mohr Siebeck

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Abstract:

In 2004, government debt in Germany reached a record level. In view of this, debt servicing represents a considerable part of the government budget. Hence, debt management is of increasing significance. The paper describes the objectives and risks of a fiscally oriented debt management strategy. It then presents the instruments that can be used to mitigate risks. The analysis is augmented with a description of the institutional, organizational, and legal regulations that debt managers in Germany must adhere to.

Keywords: GOVERNMENT DEBT; DEBT MANAGEMENT; RISK STRATEGY; SWAPS

Document Type: Research article

DOI: http://dx.doi.org/10.1628/001522105776072753

Publication date: 2005-12-01

More about this publication?
  • FinanzArchiv founded in 1884 is one of the world's oldest professional journals in public finance.

    FinanzArchiv publishes original work from all fields of public economics which are of interest to an international readership, e.g. taxation, public debt, public goods, public choice, federalism, market failure, social policy, and the welfare state. Special emphasis is on high-quality theoretical and empirical papers on current policy issues.

    FinanzArchiv is a well-established, internationally oriented journal in the field of public economics, widely read in Europe and all over the world.

    FinanzArchiv is listed in the Social Science Citation Index (SSCI, JCR impact factor 2007 0,296), in Current Contents/Social and Behavioral Sciences, in IDEAS and RePEc (IDEAS/RePEc simple impact factor 2008 1.177), in the Journal of Economic Literature (CD and online), and in the International Bibliography of the Social Sciences.

    FinanzArchiv is a fully peer-reviewed journal committed to a prompt turnaround of submissions. No more than four months should pass between online submission of a manuscript and the editor's decision on acceptance, revision, or rejection.
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