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BEGIN:VEVENT
UID:5e141ad880e98a193863ba959db36a56
CATEGORIES:Seminars
CREATED:20171102T192559
SUMMARY:Lunch Seminar: Juan Passadore - EIEF
DESCRIPTION;ENCODING=QUOTED-PRINTABLE: Optimal Debt-Maturity Management (with Saki Bigio and Galo Nuño)\n\n\n \nA
 bstract:\n We solve the problem of a government that wants to smooth financ
 ial expenses by choosing over a continuum of bonds of different maturity. T
 he planner takes into account that adjusting debt too fast can affect price
 s. At the same time, it wants to insure against several sources of risk: (a
 ) income risk, (b) interest rate (price) risk, (c) liquidity risk (prices c
 an become more sensitive to issuance’s), and (d) the risks in the cost of d
 efault. We characterize this infinite dimensional control problem to aid th
 e design of the debt-maturity profile in response to these forms of risk.\n
DTSTAMP:20260406T093141Z
DTSTART:20171025T130000Z
DTEND:20171025T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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