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How to Evaluate GDP-Linked Warrants : Price and Repayment Capacity / Ken Miyajima.
- Format:
- Book
- Government document
- Author/Creator:
- Miyajima, Ken.
- Series:
- IMF Working Papers; Working Paper ; No. 2006/085
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Bonds--Econometric models.
- Bonds.
- Gross domestic product--Econometric models.
- Gross domestic product.
- Physical Description:
- 1 online resource (37 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2006.
- Language Note:
- English
- Summary:
- 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.
- Contents:
- ""Contents""; ""I. INTRODUCTION""; ""II. HISTORY AND CHARACTERISTICS""; ""III. THE MODEL ""; ""IV. CONCLUDING REMARKS""; ""References""
- Notes:
- "March 2006."
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786613823786
- 9781462366965
- 1462366961
- 9781452762258
- 1452762252
- 9781283511339
- 1283511339
- 9781451908800
- 1451908806
- OCLC:
- 694141090
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