4-5 September 2019 Paris, France
This Public Debt Management Conference was organised by the Public Debt Management Network, an initiative fostered by the OECD, the Italian Treasury and The World Bank.
It brought together academics, policy makers (debt managers, central bankers, regulators) and market practitioners (investors, dealers, market infrastructures’ managers) from all over the world to discuss challenging issues in the area of public debt management.
During the two days, high-quality papers selected by the conference's organising committee on key issues related to debt management and government bond markets were presented by their authors and followed by audience discussions._____________________________________
Wednesday 4 September
Word from the Organisation Committee: Fatos Koc, OECD
Session 1 – Managing sovereign balance sheet risks
Managing exposures in the consolidated public sector balance sheet in emerging market countries: practical experience for Uruguay
Managing South Africa's exposure to Eskom: how to evaluate the credit risk from the sovereign guarantees?
Session 2 – Modelling public debt dynamics
Linking policy to outcomes: a simple framework for debt maturity management
An integrated approach to cost-risk analysis in public debt management
Optimal composition of sovereign debt: an adaptation from modern portfolio theory
Session 3 – Monitoring secondary market liquidity
Informed trading in a two-tier market structure under financial distress
Specialists' incentives on government bond markets
Session 4 – Debt Management and Monetary Policy
Alternative futures for government of Canada debt management
Transmission of monetary policy through the wealth channel in Brazil: does public debt matter?
Thursday 5 September
Session 5 – Assessing optimal issuance strategy
How should public debt management institutions develop medium-term issuance strategies?
Variable rate debt to insure the government budget against macroeconomic shocks
Union Debt Management
Session 6– Monitoring Public Sector Debt Risks
Monitoring subnational finances and identifying risks: Are the data good enough?
Recording, monitoring and reporting public debt: organizing a back office
Session 7– Liquidity and microstructure of the government bond market
Why hasn’t high-frequency trading swept the board?
Market liquidity, financial stability and the impact of bond scarcity
Session 8 – Approaches to debt sustainability
Risk management for sovereign financing within a debt sustainability framework
The benefits of reducing hold-out risk: evidence from the Euro CAC Experiment, 2013-2018 Sovereign Investors and Governance Policies
How markets view government debt: structural, institutional and behavioural influences on economic agents’ perspectives
Closing remarks: Davide Iacovoni, Ministry of Economy and Finance of Italy
Participation to the conferences organised by the PDM Network is by invitation only.
Keynote Address (pdf)
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