@techreport{Sieg2009Strategic,
abstract = {Opportunistic politicians use the composition of public debt as a signal for competence. A competent government will not issue long-term nominal debt, as optimal to balance the budget, but long-term inflation-indexed debt. We consider politicians that pursue the objective of a balanced budget subject to the Stability and Growth Pact and reelection. A government's competence is reflected by its ability to produce a public service at a lower cost (taxes). Competence is private information of politicians.},
address = {Braunschweig},
author = {Gernot Sieg and Ulrike Stegemann},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D72; H63; E32; 330; Political Budget Cycle; Debt Management; Inflation-indexed Bonds; Stability and Growth Pact; Debt Management; Haushaltskonsolidierung; EU-Stabilit\"{a}tspakt; Public Choice; EU-Staaten},
language = {eng},
number = {5},
publisher = {Inst. f\"{u}r Volkswirtschaftslehre},
title = {Strategic debt management within the stability and growth pact},
type = {Economics Department Working Paper Series},
url = {http://hdl.handle.net/10419/51311},
year = {2009}
}
