期刊名称：Ovidius University Annals: Economic Sciences Series
电子版ISSN：2393-3127
出版年度：2010
卷号：10
期号：1
语种：English
出版社：Ovidius University Press
摘要：Within the achieved survey,the authors started from the reality according to which risks management must be prudently achieved,such way not to lead to severe consequences at the sovereign liability‘s level. The major risks encountered in sovereign liability‘s management are herein analyzed. The authors analyze the approach known under the name of assets and liabilities management (ALM) also presenting an advanced system for risk‘s valuation (CAR-cost at risk). The result of the survey highlights the fact that the public debt management may create a series of traps,if we refer to the fact that after the years 1990 it has been considered as a separate public policy,with separate objectives with regard to the cost and risk generated by the public debt. This implies the analysis of the financial characteristics of the treasury flows of assets and selection,up to the possible level of the characteristic liabilities in order to contribute to the decrease of the budgetary impact over the liability service costs.
关键词：Risk;Public Debt Management;Assets and liability management
