Cover IMF Working Papers
Buy Book in Print
The Rationale and Design of Inflation-Indexed Bonds
Author:
Mr. Robert T Price
Search for other papers by Mr. Robert T Price in
Current site
Google Scholar Close
Series:
IMF Working Papers
Volume/Issue:
Volume 1997: Issue 012
Language:
English
Publication Date:
01 Jan 1997
DOI:
https://doi.org/10.5089/9781451842869.001
ISBN:
9781451842869
ISSN:
1018-5941
Pages:
69
Keywords:
WP; indexed bond; risk premium; inflation expectation; secondary market; monetary policy; price level; supply price; cash flow; inflation risk premium; equilibrium price; yield gap; inflation compensation; inflation country; short-term debt; fixed price; coupon rate; Inflation-indexed bonds; Inflation; Bonds; Consumer price indexes; Return on investment; South America
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Download PDF (3.3 MB) Download Epub
A number of industrialized countries have recently offered inflation-indexed bonds. Some members of another group of countries that had earlier adopted more comprehensive indexation in response to high inflation have taken steps to reduce the scope of indexation in their economies. This paper surveys debt management, monetary policy, and welfare arguments on the use of inflation-indexed bonds, and relates these to the experiences of various issuers. The paper also considers some important design features of indexed bonds.
  • Collapse
  • Expand
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund