Ep 48 ft. Layna Mosley
Clauses & Controversies
Determinants of Government Bond Denomination
The chapter explores the factors that influence governments' decisions on the denomination of their bonds, including the balance between financing costs and rollover risk. Left-leaning governments are found to be more likely to denominate debt in domestic currency, and the reasons behind this partisan effect are discussed. They also mention ongoing research on the presentation strategies of debt management offices when attracting investors.
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