Choosing The Currency Structure Of Foreign-Currency Debt: A Review Of Policy Approaches

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F12%3A86082894" target="_blank" >RIV/61989100:27510/12:86082894 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1002/jid.1711" target="_blank" >http://dx.doi.org/10.1002/jid.1711</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1002/jid.1711" target="_blank" >10.1002/jid.1711</a>

Result language
angličtina
Original language name
Choosing The Currency Structure Of Foreign-Currency Debt: A Review Of Policy Approaches
Original language description
Starting from the constraints and incentives that cause countries to issue debt in foreign currency, this paper provides an overview of policy approaches for choosing the optimal currency structure of sovereign foreign-currency debt. The objective of sovereign debt managers generally includes both risk and cost minimisation, while constraints to foreign currency debt allocation originate in the parameters of the domestic macroeconomy, the shocks it faces and the initial conditions. Overall, the main parameters that drive the solutions for optimal currency allocation of foreign-currency debt are the covariances of macrovariables with exchange rates and the variances of different exchange rates.
Czech name
—
Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
<a href="/en/project/GAP402%2F10%2F1046" target="_blank" >GAP402/10/1046: Fiscal Policy and the Czech Economy: Macroeconometric Studies</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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