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Anne Villamil Ferreira, Mauro Sayar 2015-09-25T22:47:28Z 2015-09-25T22:47:28Z 10000-01-01 2006 2006 The third chapter analyzes issues about public debt maturity in a general equilibrium model of a small open economy under inflation target. Following a risk premium shock, the households of this economy suffer higher wealth losses if they finance the government with longer maturity nominal bond. This happens due to surprise inflation and because of the foregone returns not earned in a longer position. This result may explain the difficulty faced by several Treasuries of emerging economies to extend the debt maturity in moments of confidence crisis. Our simulations also indicate that stronger commitment to stable inflation helps a Treasury willing to extend debt maturity since it reduces wealth losses. Made available in DSpace on 2015-09-25T22:47:28Z (GMT). No. of bitstreams: 2 license.txt: 4848 bytes, checksum: 96035ab3f5e1c23cc7138a224ce498bd (MD5) 3250240.pdf: 3759561 bytes, checksum: 2b4d5264601f51462ef5147dce661b2b (MD5) Previous issue date: 2006 Embargo set by: Seth Robbins for item 86859 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs U of I Only 120 p. Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2006. http://hdl.handle.net/2142/85578 (MiAaPQ)AAI3250240 eng Economics, General Essays in International Finance text Economics Economics University of Illinois at Urbana-Champaign Dissertation Ph.D.