Arbeitspapier
The case for TIPS: An examination of the costs and benefits
Several studies have shown that, ex-post, the issuance of Treasury Inflation-Protected Securities (TIPS) has cost U.S. taxpayers money. We propose that evaluations of the TIPS program be more comprehensive and focus on the ex-ante costs of TIPS issuance versus nominal Treasury issuance and, especially when these costs are negligible, the more difficult-to-measure benefits of the program. Our study finds that the ex-ante costs of TIPS issuance versus nominal Treasury issuance are currently about equal and that TIPS provide meaningful benefits to investors and policymakers.
- Language
-
Englisch
- Bibliographic citation
-
Series: Staff Report ; No. 353
- Classification
-
Wirtschaft
National Debt; Debt Management; Sovereign Debt
General Financial Markets: General (includes Measurement and Data)
- Subject
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Inflation-indexed debt
Treasury Inflation-Protected Securities (TIPS)
liquidity premium
inflation risk premium
Schatzpapier
Indexierung
Kosten-Nutzen-Analyse
USA
- Event
-
Geistige Schöpfung
- (who)
-
Roush, Jennifer
Dudley, William
Ezer, Michelle Steinberg
- Event
-
Veröffentlichung
- (who)
-
Federal Reserve Bank of New York
- (where)
-
New York, NY
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Roush, Jennifer
- Dudley, William
- Ezer, Michelle Steinberg
- Federal Reserve Bank of New York
Time of origin
- 2008
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