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150128 ||| eng |
020 |
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|a 9781451961676
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100 |
1 |
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|a Chan-Lau, Jorge
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245 |
0 |
0 |
|a Public Debt Sustainability and Management in a Compound Option Framework
|c Jorge Chan-Lau, Andre Santos
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2010
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300 |
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|a 30 pages
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651 |
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4 |
|a Australia
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653 |
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|a Public Administration
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653 |
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|a Public debt
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653 |
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|a Finance
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653 |
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|a Public finance & taxation
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653 |
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|a Financial statements
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653 |
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|a Government debt management
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653 |
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|a Financial institutions
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653 |
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|a Debt Management
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653 |
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|a Debts, Public
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653 |
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|a Fiscal Policy
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653 |
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|a Debt
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653 |
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|a General Financial Markets: General (includes Measurement and Data)
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653 |
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|a Asset and liability management
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653 |
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|a International Lending and Debt Problems
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653 |
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|a Simulation Methods
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653 |
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|a International Financial Markets
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653 |
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|a Sovereign Debt
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653 |
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|a Accounting
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653 |
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|a Finance, Public; Accounting
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653 |
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|a Asset-liability management
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653 |
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|a Public Sector Accounting and Audits
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653 |
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|a Investments: General
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653 |
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|a Public financial management (PFM)
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653 |
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|a Financial reporting, financial statements
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653 |
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|a Investment & securities
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653 |
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|a Financial Risk Management
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653 |
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|a Public Finance
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653 |
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|a Government securities
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700 |
1 |
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|a Santos, Andre
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041 |
0 |
7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
0 |
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|a IMF Working Papers
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028 |
5 |
0 |
|a 10.5089/9781451961676.001
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856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2010/002/001.2010.issue-002-en.xml?cid=23485-com-dsp-marc
|x Verlag
|3 Volltext
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082 |
0 |
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|a 330
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520 |
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|a This paper introduces the Asset and Liability Management (ALM) compound option model. The model builds on the observation that the public sector net worth in a multi-period setting corresponds to the value of an option on an option on total government assets. Hence, the ALM compound option model is better suited for analyzing and evaluating the risk profile of public debt than existing one-period models, and is especially useful for analyzing the soundness of exit strategies from the large fiscal expansions undertaken by G-20 countries in the wake of the recent financial crisis. As an illustration, the model is used to analyze the risk profile and sustainability of Australia's public debt under different policies
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