“Managing the National Debt 1694-2017 III – Debt Management” (with Martin Ellison). What can we learn from the last 100 years of UK debt management?

“Managing the National Debt 1694-2017 III – Debt Management” (with Martin Ellison). What can we learn from the last 100 years of UK debt management? Performing a variety of counterfactuals under a range of assumptions we show how UK government debt would be substantially lower today if the government had made greater use of short term debt. By lowering debt levels short term debt can also reduce rollover risk in some regions.

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