Government Debt Management at Low Interest Rates

Robert N. McCauley and Kazuo Ueda

in Taxation and the Financial Crisis

Published in print February 2012 | ISBN: 9780199698165
Published online May 2012 | e-ISBN: 9780191738630 | DOI:

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Debt management can be used at low interest rates to lower bond yields, to provide bank assets and thereby help maintain broad money growth, or to save on interest payments. The US example in the 1930s and the recent Japanese case suggest that this tool was not fully exploited in either case.

Keywords: debt management; bank assets; government debt; interest rates

Chapter.  6378 words.  Illustrated.

Subjects: Financial Markets

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