Author Description

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; I. Introduction; Ii. History And Characteristics; Iii. The Model; Iv. Concluding Remarks; References Ken Miyajima. March 2006. Includes Bibliographical References. English