01694cas a2200253 a 4500 AALejournalIMF003870 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451862355 1018-5941 BD-DhAAL BD-DhAAL Mauro, Paolo. Pricing Growth-Indexed Bonds / Paolo Mauro, Marcos Chamon. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Growth-indexed bonds have been suggested as a way of reducing the procyclicality of emerging-market countries' fiscal policies and the likelihood of costly debt crises. Investor attitude surveys suggest that pricing difficulties are seen as a considerable obstacle. In an effort to reduce such concerns, this article presents a simple way of pricing growth-indexed bonds. As a pleasant by-product, the analysis tracks the quantitative implications of an increase in the share of growth-indexed bonds in total debt, measuring the ensuing decline in the probability of default and the reduction in the spreads at which standard bonds can be issued. Mode of access: Internet Chamon, Marcos. IMF Working Papers; Working Paper ; No. 2005/216 Full text available on IMF http://elibrary.imf.org/view/journals/001/2005/216/001.2005.issue-216-en.xml IMF e-Library