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How to evaluate GDP-linked warrants : price and repayment capacity /
Following a brief review of the recent history of GDP-linked instruments, this paper proposes a set of tools to examine the quantitative properties of GDP-linked warrants. It argues that trigger conditions should be clearly identifiable and payment amounts easily calculable. Based on a design that i...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund, International Capital Markets Dept.,
©2006.
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| Colección: | IMF working paper ;
WP/06/85. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Following a brief review of the recent history of GDP-linked instruments, this paper proposes a set of tools to examine the quantitative properties of GDP-linked warrants. It argues that trigger conditions should be clearly identifiable and payment amounts easily calculable. Based on a design that includes these features and historical data for the main EMBI countries, the paper provides an assessment of the issuer's capacity to service GDP-linked warrants, comparing payments with tax revenues stemming from contemporaneous growth. The price of the GDP-linked warrants are then estimated from the point of view of both domestic and foreign investors. |
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| Descripción Física: | 1 online resource (35 pages) : illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1283511339 9781283511339 9781451908800 1451908806 |
| ISSN: | 2227-8885 ; |