Fiscal Insurance and Debt Management in OECD Economies

Constant

Maturity

MV/Y

ω∕Y

∆y

Inflation

R²

Ψ∏ »

0.77

-0.04

0.12

-19.23

-0.474

-5.364

0.24

^ψ1,2

(0.07)

(0.32)

(0.79)

(0.14)

(0.96)

(0.480)

Ψ-. ,

1.64

-0.113

0.552

-60.148

-15.878

1.109

0.29

^ψ1,3

(0.10)

(0.26)

(0.61)

(0.07)

(0.50)

(0.95)

Ψ-. Γ∙

1.72

-0.142

0.639

-80.01

-36.94

18.17

018

^ψ1,5

(0.20)

(0.32)

(0.69)

(0.09)

(0.30)

(0.49)

.

Ψ,.

0.75

-0.035

0.369

-22.767

-0.483

-8.611

0.33

2,2

(0.11)

(0.44)

(0.484)

(0.13)

(0.96)

(0.33)

Ψn,

1.56

-0.064

0.806

-95.730

-7.164

-10.680

015

^ψ2,3

(0.34)

(0.71)

(0.68)

(0.11)

(0.87)

(0.74)

.

Ψ2,5

1.63
(0.45)

-0.132

(0.58)

-0.064

(0.98)

-103.511

(0.18)

-1.325

(0.98)

12.191

(0.78)

-0.262

Im

1.54

-0.033

0.873

6.546

5.869

-22.43

019

(0.027)

(0.57)

(0.23)

(0.71)

(0.69)

(0.09)

.

φ*₁

1.56

-0.112

0.327

-11.531

-0.861

-6.285

0.09

1

(0.04)

(0.13)

(0.67)

(0.56)

(0.96)

(0.62)

ɪ*

<τ> _o

0.48

-0.074

0.768

-31.887

3.323

1.342

0.57

*∙* 3

(0.23)

(0.12)

(0.15)

(0.04)

(0.75)

(0.86)

φ*

0.31

-0.070

1.279

-38.199

-4.463

2.327

0.61

5

(0.50)

(0.21)

(0.07)

(0.05)

(0.72)

(0.81)