Coordinating Public Debt Management With Fiscal And Monetary Policies An Analytical Framework
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Coordinating Public Debt Management With Fiscal And Monetary Policies An Analytical Framework
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Author : Eriko Togo
language : en
Publisher: World Bank Publications
Release Date : 2012
Coordinating Public Debt Management With Fiscal And Monetary Policies An Analytical Framework written by Eriko Togo and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
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
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1997-04-15
Coordinating Public Debt And Monetary Management written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-04-15 with Business & Economics categories.
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.
Coordination Of Monetary And Fiscal Policies
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1998-03-01
Coordination Of Monetary And Fiscal Policies written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-03-01 with Business & Economics categories.
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Managing Public Debt
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Author :
language : en
Publisher: World Bank Publications
Release Date : 2007-01-01
Managing Public Debt written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Business & Economics categories.
High-quality public debt management plays a critical role in reducing the vulnerability of developing countries to financial crises. With sound risk and cash management, effective coordination with fiscal and monetary policy, good governance, and adequate institutional and staff capacity in place, governments can develop and implement effective medium-term debt management strategies. Managing Public Debt: From Diagnostics to Reform Implementation draws insights from a joint pilot program set up by the World Bank and International Monetary Fund to design relevant reform and capacity-building programs in twelve countries. The experiences of these geographically and economically diverse countries - Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia - illustrate the challenges and elements necessary to make progress in the area of public debt management. Managing Public Debt will serve government officials contemplating or in the process of reforming their practices, providers of technical assistance, and practitioners working on building capacity in public debt management. Because effective implementation of debt management strategies also requires a developed domestic government debt market, readers will also be interested in the companion volume, Developing the Domestic Government Debt Market, published by The World Bank in February 2007, based on the same joint pilot program.
Coordinating Public Debt And Monetary Management During Financial Reforms
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Author : Mr.Sérgio Pereira. Leite
language : en
Publisher: International Monetary Fund
Release Date : 1992-10-01
Coordinating Public Debt And Monetary Management During Financial Reforms written by Mr.Sérgio Pereira. Leite and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-10-01 with Business & Economics categories.
The paper analyzes the interplay between public debt and monetary management during financial reforms, and provides suggestions on collaboration between the central bank and the treasury to achieve common objectives. It discusses monetary policy and public debt at the onset and through different phases of a financial reform and emphasizes that many objectives of public debt and monetary management are mutually supportive. It recommends the setting up of units to deal with public debt issues both at the treasury and the central bank, as well as a committee to coordinate public debt and monetary management.
Guidelines For Public Debt Management Amended
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-09-12
Guidelines For Public Debt Management Amended written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-12 with Business & Economics categories.
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The Coordination Of Domestic Public Debt And Monetary Management In Economies In Transition
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1994-12-01
The Coordination Of Domestic Public Debt And Monetary Management In Economies In Transition written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-12-01 with Business & Economics categories.
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.
Modernizing The Framework For Fiscal Policy And Public Debt Sustainability Analysis
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2011-05-08
Modernizing The Framework For Fiscal Policy And Public Debt Sustainability Analysis written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-08 with Business & Economics categories.
Modernizing the framework for fiscal policy and public debt sustainability analysis (DSA) has become necessary, particularly in light of the recent crisis and rising sustainability concerns in some advanced economies. While recognizing the inherently challenging nature of such analysis, this paper highlights areas where improvements are needed and makes both general and specific proposals on how this could be achieved. It also proposes to move to a risk-based approach to DSAs for all market-access countries, where the depth and extent of analysis would be commensurate with concerns regarding sustainability, while a reasonable level of standardization would be maintained.
Staff Guidance Note For Public Debt Sustainability Analysis In Market Access Countries
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-06
Staff Guidance Note For Public Debt Sustainability Analysis In Market Access Countries written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-06 with Business & Economics categories.
The framework for fiscal policy and public debt sustainability analysis (DSA) in market-access countries (MACs) was reviewed by the Executive Board in August 2011.1 The review responded to shortcomings in identifying fiscal vulnerabilities and assessing risks to debt sustainability against the backdrop of increased concerns over fiscal policy and public debt sustainability in many advanced economies.
Designing Legal Frameworks For Public Debt Management
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Author : Elsie Addo Awadzi
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-02
Designing Legal Frameworks For Public Debt Management written by Elsie Addo Awadzi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-02 with Business & Economics categories.
Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices require robust legal underpinnings. Complex legal issues however arise in the design of the legal framework, and tradeoffs are required in many instances. This paper analyzes key features of modern public debt management legal frameworks, drawing from examples in advanced, emerging, and frontier markets. It aims to provide guidance for countries that seek to review and strengthen their public debt management legal frameworks.