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Name: EMU and Public Debt Management : One Money, One Debt?
Author: Favero, Carlo / Missale, A. / Piga, G.
ISBN: 978-1-898128-50-2

EMU and Public Debt Management : One Money, One Debt? 欧州通貨同盟と公債管理

・ISBN 978-1-898128-50-2 paper

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著者・編者	Favero, Carlo / Missale, A. / Piga, G.,
シリーズ	CEPR Policy Paper
出版社	(Centre for Economic Policy Research, UK)
出版年月	2000
ページ数	40 pp.
言語	ENG
ニュース番号	＜463-318 463-338＞

解説

This paper discusses changes in public debt management under economic and monetary union (EMU) and its implications for monetary policy. With the advent of EMU, government securities have been redenominated in euros. The speculative demand and the demand for portfolio diversification related to exchange rate variation have disappeared. Common euro denomination has made liquidity and default-risk the distinguishing dimensions of government securities issued by EMU member states.