Managing public debt : index-linked bonds in theory and practice

書誌事項

Managing public debt : index-linked bonds in theory and practice

edited by Marcello De Cecco, Lorenzo Pecchi, Gustavo Piga

Edward Elgar Pub., c1997

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注記

Contains articles from an international conference "Index-linked bonds in theory and in practice" held in Rome on October 19, 1995

Includes bibliographical references

内容説明・目次

内容説明

Managing Public Debt combines a theoretical and empirical analysis of the advantages of issuing index-linked bonds and potential problems that may arise and how sovereign issuers should deal with them. International in its approach, this book will be especially welcomed in those countries where index-linked programmes are in operation or being discussed. It considers the experiences of the UK, Sweden and Italy, providing new insights which will be of special interest to economists and officials in the US Treasury who will shortly begin issuing index-linked bonds. Other issues discussed include the impact of index-linked bonds on the cost of public debt of sovereign issuers and the advantages of such bonds compared to conventional bonds; the market perspective on index-linked bonds in view of the European Monetary Union and alternative uses and strategic aspects of index-linked bonds. This important book will be invaluable to policymakers, government institutions, academics and postgraduate students as well as market practitioners.

目次

Contents: Introduction 1. Index-linked Government Securities: The UK Experience and Perspective (J. Townend) 2. Index-linked Bonds: The Swedish Experience (M. Persson) 3. Inflation-protected Retirement Plans (Z. Bodie) 4. Tax Smoothing with Price-index-linked Bonds: A Case Study of Italy and the United Kingdom (A. Missale) 5. Reducing the Cost of Government Debt: The Role of Index-linked bonds (S. Foresi, A. Penati, G. Pennacchi) 6. Index-linked bonds from an Academic, Market and Policy-making Standpoint (E. Barone, R.S. Masera) 7. Real Interest Rates and Inflation: An Ex-ante empirical Analysis (S. Kandel, A.R. Ofer, O. Sarig) 8. Who's Afraid of Index-linked Bonds? (L. Pecchi, G. Piga) 9. Differences and Anologies Between Index-linked and Foreign-currency Bonds: A Theoretical and Empirical Analysis (F. Drudi, A. Prati) Index

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