2013 | OriginalPaper | Buchkapitel
Is the standard micro portfolio approach to sovereign debt management still appropriate? A critical analysis of the underlying analytical framework
verfasst von : Anja Hubig
Erschienen in: Introduction of a New Conceptual Framework for Government Debt Management
Verlag: Springer Fachmedien Wiesbaden
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There is a consensus among OECD debt managers that the primary strategic objectives or functions of government debt management are
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: (a) securing continuous (and easy) access to markets, while (b) minimizing longer-term borrowing costs at an acceptable level of risk. These strategic cost-risk objectives constitute the basis of the so-called standard micro portfolio approach to public debt management (PDM).