The Australian government registered strong financial performance during the period under review. There was an increase in net worth owing to transactions, as measured by the net operating balance (NOB). These resources enabled the government to reduce its net liabilities and, to a lesser extent, acquire financial assets on a net basis. The Australia pilot study is...

The Australian government registered strong financial performance during the period under review. There was an increase in net worth owing to transactions, as measured by the net operating balance (NOB). These resources enabled the government to reduce its net liabilities and, to a lesser extent, acquire financial assets on a net basis. The Australia pilot study is...

This paper examines the Argentine experience with GDP-indexed warrants in order to gauge the existence of a novelty premium on new financial instruments. It develops a Monte Carlo pricing exercise to calculate the expected net present value of payments, on the basis of various forecast assumptions. The results show that the residual premium paid by these warrants o...

This paper examines the Argentine experience with GDP-indexed warrants in order to gauge the existence of a novelty premium on new financial instruments. It develops a Monte Carlo pricing exercise to calculate the expected net present value of payments, on the basis of various forecast assumptions. The results show that the residual premium paid by these warrants o...

This paper examines the Argentine experience with GDP-indexed warrants in order to gauge the existence of a novelty premium on new financial instruments. It develops a Monte Carlo pricing exercise to calculate the expected net present value of payments, on the basis of various forecast assumptions. The results show that the residual premium paid by these warrants o...