GDP-linked Bonds and Sovereign Default

David Barr, Oliver Bush and Alex Pienkowski

Chapter 4.3 in Life After Debt, 2014, pp 246-275 from Palgrave Macmillan

Abstract: Abstract In this paper we explore the ways in which GDP-linked bonds can stabilize sovereign debt dynamics and reduce the probability of default. GDP-linked bonds provide cash payments that vary positively with the level of GDP, thereby helping to stabilize the debt-to-GDP ratio.

Keywords: Interest Rate; Total Factor Productivity; Relative Risk Aversion; Credit Spread; Sovereign Debt (search for similar items in EconPapers)
Date: 2014
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Working Paper: GDP-linked bonds and sovereign default (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-41148-8_16

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DOI: 10.1057/9781137411488_16

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