The Rationale and Design of Inflation-Indexed Bonds

69 Pages Posted: 15 Feb 2006

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Robert Price

Organization for Economic Co-Operation and Development (OECD) - Economics Department (ECO)

Date Written: January 1997

Abstract

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.

JEL Classification: G19

Suggested Citation

Price, Robert, The Rationale and Design of Inflation-Indexed Bonds (January 1997). IMF Working Paper No. 97/12, Available at SSRN: https://ssrn.com/abstract=882231

Robert Price (Contact Author)

Organization for Economic Co-Operation and Development (OECD) - Economics Department (ECO) ( email )

2 rue Andre Pascal
Paris Cedex 16, MO 63108
France

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