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Podejście zintegrowane i portfelowe w zarządzaniu długiem publicznym

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  • Szczerbak, Marek

Abstract

There are two major currents in the literature on public debt management: the integrated one and the portfolio one. According to the integrated approach public debt is analysed in a broader context of economic policy of the government. Like in the case of the concept of tax flattening, fiscal policy optimization and debt management optimization are often considered jointly. On the other hand, the portfolio approach involves debt management with the economic policy of the government specified in advance. The borderline often runs between theoretical writings in economics and economic policy and practice, including documents accepted in different states by public debt management institutions. Convergence of both these currents is a likely direction of developments in research efforts. The Strategy for Public Finance Sector Debt Management in 2003-2005 may be a reflection of such a need.

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  • Szczerbak, Marek, 2003. "Podejście zintegrowane i portfelowe w zarządzaniu długiem publicznym," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2003(5-6), May.
    • Handle: RePEc:ags:polgne:350184
    DOI: 10.22004/ag.econ.350184
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    References listed on IDEAS

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    1. Robert Barro, 2003. "Optimal Management of Indexed and Nominal Debt," Annals of Economics and Finance, Society for AEF, vol. 4(1), pages 1-15, May.
    2. Barro, Robert J, 1979. "On the Determination of the Public Debt," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 940-971, October.
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    Financial Economics; Public Economics;

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