Reviving the Case for GDP-Indexed Bonds

Reviving the Case for GDP-Indexed Bonds
This paper seeks to revive the case for countries to self-insure against economic growth slowdowns by issuing GDP-indexed bonds. We simulate the effects of GDP-indexed bonds under different assumptions about fiscal policy reaction functions and their output effects and find that they could substantially reduce the likelihood that debt/GDP paths... READ MORE...

Publication date: September 2002
ISBN 9781451970173
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