Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/241129 
Year of Publication: 
2020
Series/Report no.: 
Staff Report No. 936
Publisher: 
Federal Reserve Bank of New York, New York, NY
Abstract: 
This paper examines the evolution of the maturity structure of marketable Treasury debt from 1953 to 1983. Average maturity contracted erratically from 1953 to 1960, expanded through mid-1965, contracted again through late 1975, and then expanded into the early 1980s. What accounts for these broad trends? In particular, what were the maturity objectives of Treasury debt managers? Were they able to achieve their objectives? Why or why not?
Subjects: 
Treasury debt management
maturity structure of debt
advance refundings
JEL: 
G28
H63
N22
Document Type: 
Working Paper

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