Inflation-linked Bonds: An Introduction

Maria Farrugia (), Glenn Formosa and Joseph Julian Pace
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Maria Farrugia: Central Bank of Malta
Glenn Formosa: Central Bank of Malta
Joseph Julian Pace: Central Bank of Malta

No WP/05/2018, CBM Working Papers from Central Bank of Malta

Abstract: This paper gives an overview of inflation-linked bonds (ILBs). In the first part, it describes the characteristics of inflation-linked bonds and their pricing mechanics. This is followed by an illustrative example which compares the cashflow structure of the two types of fixed income securities. An analysis of the historical performance of inflation-linked bonds relative to their nominal counterparts1 follows on the basis of the Bloomberg Barclays total return indices for the US and Germany. Correlations between ILBs and fixed coupon bonds were computed.

JEL-codes: D53 E44 G1 (search for similar items in EconPapers)
Pages: 17 pgs
Date: 2018
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (1)

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