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Managing Public Debt

Index-Linked Bonds in Theory and Practice

Marcello De Cecco, Lorenzo Pecchi, Gustavo Piga (Herausgeber)

Buch | Hardcover

240 Seiten

1997
Edward Elgar Publishing Ltd (Verlag)
978-1-85898-491-9 (ISBN)

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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.

Edited by the late Marcello de Cecco, formerly Scuola Normale Superiore di Pisa, Lorenzo Pecchi, Banca di Roma and Gustavo Piga, Tor Vergata University of Rome, Italy

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

Erscheint lt. Verlag	15.5.1997
Verlagsort	Cheltenham
Sprache	englisch
Maße	156 x 234 mm
Themenwelt	Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
	Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-10	1-85898-491-2 / 1858984912
ISBN-13	978-1-85898-491-9 / 9781858984919
Zustand	Neuware