The maturity composition of government debt: A comprehensive database

Ferre De Graeve and Giulio Mazzolini

European Economic Review, 2023, vol. 154, issue C

Abstract: We present a novel dataset which covers all central government debt issued by twenty OECD economies over the last quarter century and describe common features of debt management and the composition of debt across time and countries. Just like debt levels, debt maturity has substantially increased over this sample period. Despite this long term positive co-movement, there is a clear short term tendency for debt maturity to shorten as debt increases. Maturity is actively reshuffled, even at constant levels of debt. The majority of fluctuations in maturity are consistent with cost-minimization.

Keywords: Government debt management; Fiscal policy; Debt maturity (search for similar items in EconPapers)
JEL-codes: C32 C82 E62 E63 H63 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:154:y:2023:i:c:s0014292123000673

DOI: 10.1016/j.euroecorev.2023.104438

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