Public Debt Sustainability and Management in a Compound Option Framework:
Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Chan-Lau, Jorge A. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2010
Schriftenreihe:IMF Working Papers Working Paper No. 10/2
Links:http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
http://elibrary.imf.org/view/IMF001/10637-9781451961676/10637-9781451961676/10637-9781451961676.xml
Abstract:This paper introduces the Asset and Liability Management (ALM) compound option model. The model builds on the observation that the public sector net worth in a multi-period setting corresponds to the value of an option on an option on total government assets. Hence, the ALM compound option model is better suited for analyzing and evaluating the risk profile of public debt than existing one-period models, and is especially useful for analyzing the soundness of exit strategies from the large fiscal expansions undertaken by G-20 countries in the wake of the recent financial crisis. As an illustration, the model is used to analyze the risk profile and sustainability of Australia''s public debt under different policies
Umfang:1 Online-Ressource (30 p)
ISBN:1451961677
9781451961676