Pricing Growth-Indexed Bonds:
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Bibliographic Details
Main Author: Mauro, Paolo (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 2005
Series:IMF Working Papers Working Paper No. 05/216
Links:http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
http://elibrary.imf.org/view/IMF001/05410-9781451862355/05410-9781451862355/05410-9781451862355.xml
Abstract:Growth-indexed bonds have been suggested as a way of reducing the procyclicality of emerging-market countries'' fiscal policies and the likelihood of costly debt crises. Investor attitude surveys suggest that pricing difficulties are seen as a considerable obstacle. In an effort to reduce such concerns, this article presents a simple way of pricing growth-indexed bonds. As a pleasant by-product, the analysis tracks the quantitative implications of an increase in the share of growth-indexed bonds in total debt, measuring the ensuing decline in the probability of default and the reduction in the spreads at which standard bonds can be issued
Physical Description:1 Online-Ressource (26 p)
ISBN:1451862350
9781451862355