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TOPIC:
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OPTIMAL DEBT-MATURITY MANAGEMENT
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ABSTRACT
A Government wishes to smooth financial expenses and can issue fixed-coupon bonds among a continuum of maturities. The Government takes into account its price impact. It faces income, interest-rate, and liquidity risk. It acknowledges its own temptation to default. We characterize variations of this problem, compute its risky steady state and present applications.
Keywords: Maturity, Debt Management, Open Economics
JEL Classification: F34, F41, G11
Click here to view the CV.
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PRESENTER
Saki Bigio
University of California, Los Angeles
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RESEARCH FIELDS
Finance
Macroeconomics
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DATE:
26 March 2018 (Monday)
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TIME:
4pm - 5.30pm
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VENUE:
Meeting Room 5.1, Level 5
School of Economics
Singapore Management University
90 Stamford Road
Singapore 178903
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