Long-Term Interest Rates and Public Debt Maturity

Ieva Sakalauskaite, Roel Beetsma and Massimo Giuliodori ()

No 4408, CESifo Working Paper Series from CESifo

Abstract: For a sample of sixteen OECD countries over the period 1980-2007 we show that, for given debt-GDP ratio, an increase in the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect is stronger for countries with higher average inflation or debt.

Keywords: debt; maturity; long-term interest rates; inflation; OECD (search for similar items in EconPapers)
JEL-codes: E43 E44 H62 H63 H68 (search for similar items in EconPapers)
Date: 2013
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Related works:
Journal Article: Long-term Interest Rates and Public Debt Maturity (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_4408

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