GOVERNMENT DEBT MANAGEMENT IN THE CZECH REPUBLIC: SENSITIVITY ANALYSIS OF THE OPTIMAL ALLOCATION
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F13%3A86087263" target="_blank" >RIV/61989100:27510/13:86087263 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
GOVERNMENT DEBT MANAGEMENT IN THE CZECH REPUBLIC: SENSITIVITY ANALYSIS OF THE OPTIMAL ALLOCATION
Original language description
Sound debt management practices help prevent occurrence of debt crisis, reduce vulnerability to macroeconomic and financial shocks, and support economic growth. Unexpected increases in debt-service charges can substantially change the dynamics and accumulation of government debt. The unexpected increases can occur due to significant risk exposures to exchange rate, interest rate and refinancing risks that the government has assumed when allocating its debt. Vulnerability of public debt to macroeconomicshocks can be reduced by responsible allocation of debt. This article emphasizes some of the best practices of the public debt management and empirically finds the optimal debt allocation for the Czech Republic using Giavazzi and Missale (2004, p. 7) approach. To calibrate the latter, conditional expectations, based on a vector autoregression (VAR) model for the Czech macroeconomy, are used. Using sensitivity analysis, the paper then studies robustness of the empirically determined, opti
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
Result was created during the realization of more than one project. More information in the Projects tab.
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Current Trends in Public Sector Research : proceedings of the 17th international conference : Šlapanice, 17-18 January 2013
ISBN
978-80-210-6159-0
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
255-263
Publisher name
Masaryk University
Place of publication
Brno
Event location
Šlapanice, Brno-venkov
Event date
Jan 17, 2013
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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