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[null,"1.","Record Nr.",null,"UNINA9910464007703321"]
[null,null,"Autore",null,"Lu Yinqiu"]
[null,null,"Titolo",null,"Financial instruments to hedge commodity price risk for developing countries [[electronic resource] /] / prepared by Yinqiu Lu and Salih Neftci"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C., : International Monetary Fund, Monetary and Capital Markets Dept., 2008"]
[null,null,"ISBN",null,"1-4623-9718-2"]
[{"$nulls":4},"1-4527-9450-2"]
[{"$nulls":4},"1-4518-6868-5"]
[{"$nulls":4},"9786612840395"]
[{"$nulls":4},"1-282-84039-8"]
[null,null,"Descrizione fisica",null,"1 online resource (22 p.)"]
[null,null,"Collana",null,"IMF working paper ; ; WP/08/6"]
[null,null,"Soggetti",null,"Prices - Developing countries"]
[{"$nulls":4},"Commercial products - Economic aspects - Developing countries"]
[{"$nulls":4},"Revenue - Developing countries"]
[{"$nulls":4},"Options (Finance) - Developing countries"]
[{"$nulls":4},"Electronic books."]
[{"$nulls":4},"Developing countries Economic policy"]
[{"$nulls":4},"Developing countries Economic conditions"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","\"January 2008.\""]
[null,null,null,"Nota di bibliografia","Includes bibliographical references (p. 19-20)."]
[null,null,"Nota di contenuto",null,"Contents; I. Introduction; II. Smooth fluctuations in Commodity Revenue Collections-Option Transactions; A. Plain Vanilla Options; Figures; 1. A Put Option Structure; B. Risk Reversals; Tables; 1. Prices of ATM Options; 2. Prices of 20 Percent OTM Options; 2. A Zero Premium Risk Reversal Structure; C. Barrier Option Structures; 3. Prices of the Up-and-Out Put Options: H=120; 3. A Knock-out Option; III. Smooth Borrowing Cost-A Structured Product; A. The Instrument; B. Intermediary; 4. The Structure of the New Instrument; C. Pricing; 5 The Involvement of Investment Bank as an Intermediary"]
[null,null,null,"Sommario/riassunto","Many developing economies are heavily exposed to commodity markets, leaving them vulnerable to the vagaries of international commodity prices. This paper examines the use of commodity options-including plain vanilla, risk reversal, and barrier options-to hedge such "]
[{"$nulls":4},"risk. It then proposes the use of a new structured product-a sovereign Eurobond with an embedded option on a specific commodity price. By extracting commodity price risk out of the bond, such an instrument insulates the bond default risk from commodity price movements, allowing it to be marketed at a lower credit spread. The product"]