| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17217 |
| DP17217 Creating a Safe Asset without Debt Mutualization: the Opportunity of a European Debt Agency | |
| Massimo Amato; Everardo Belloni; Carlo A. Favero; Lucio Gobbi | |
| 发表日期 | 2022-04-13 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | This paper analyses the potential of a European Debt Agency (EDA) as an efficient debt management institution for the Euro area. The simulation of prices and quantities that would have been observed in a scenario with an operational EDA illustrates that there have been fluctuations in bond prices that EDA would have been able to prevent. Moreover, due to the less volatile price dynamics, EDA would have been capable to absorb the entire eurozone debt while reducing its size. This evidence speaks in favour of EDA as an institutional debt management tool for hedging Member States financing from market sentiment vagaries; creating a European Safe Asset; unburdening ECB from debt management and managing efficiently the implementation of fiscal rules. |
| 主题 | International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | European debt agency European safe assets Debt management |
| URL | https://cepr.org/publications/dp17217 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/546216 |
| 推荐引用方式 GB/T 7714 | Massimo Amato,Everardo Belloni,Carlo A. Favero,et al. DP17217 Creating a Safe Asset without Debt Mutualization: the Opportunity of a European Debt Agency. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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