Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/84179 
Year of Publication: 
2013
Series/Report no.: 
CESifo Working Paper No. 4408
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
For a sample of sixteen OECD countries over the period 1980-2007 we show that, for given debt-GDP ratio, an increase in the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect is stronger for countries with higher average inflation or debt.
Subjects: 
debt
maturity
long-term interest rates
inflation
OECD
JEL: 
E43
E44
H62
H63
H68
Document Type: 
Working Paper
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