Government debt management at low interest rates

Robert McCauley and Kazuo Ueda ()

BIS Quarterly Review, 2009

Abstract: Even if shortening the maturity of government debt does not put downward pressure on government bond yields, debt management may still become an important policy tool to serve quantity or fiscal objectives at very low interest rates. The US example in the 1930s and the recent Japanese case suggest that this tool was not fully employed.

JEL-codes: E50 E51 E52 E58 E60 E61 E63 E65 H63 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (26)

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