tailieunhanh - WORKING PAPER SERIES 214 - DO INFLATION-LINKED BONDS CONTAIN INFORMATION ABOUT FUTURE INFLATION?

The RBI operates the government bond market, and therefore acts as monetary authority and debt manager, as well as regulator of the government bond market and its key participants— primary dealers and banks. 6 Other participants are regulated by SEBI, the Insurance Regulatory and Development Agency (IRDA), or the Provident Fund regulator. New securities are issued by auction, with primary dealers required to participate. Trading is a mix of OTC bilateral negotiation and an order matching system. Banks and primary dealers are the main participants, but other investors have access to trading. Some limited retail trade occurs on the stock exchanges. Bond. | ISSN 1518-3548 BANCO CENTRAL DO BRASIL Working Paper Series Do Inflation-linked Bonds Contain Information about Future Inflation José Valentim Machado Vicente and Osmani Teixeira de Carvalho Guillen October 2010 Working Paper Series ISSN 1518-3548 CGC 0001-05 Brasília n. 214 Oct. 2010 p. 1-30 Working Paper Series Edited by Research Department Depep - E-mail workingpaper@ Editor Benjamin Miranda Tabak - E-mail Editorial Assistant Jane Sofia Moita - E-mail Head of Research Department Adriana Soares Sales - E-mail The Banco Central do Brasil Working Papers are all evaluated in double blind referee process. Reproduction is permitted only if source is stated as follows Working Paper n. 214. Authorized by Carlos Hamilton Vasconcelos Araujo Deputy Governor for Economic Policy. General Control of Publications Banco Central do Brasil Secre Surel Cogiv SBS - Quadra 3 - Bloco B - Edificio-Sede - 1 andar Caixa Postal 70074-900 Brasilia - DF - Brazil Phones 55 61 3414-3710 and 3414-3565 Fax 55 61 3414-3626 E-mail editor@ The views expressed in this work are those of the authors and do not necessarily reflect those of the Banco Central or its members. Although these Working Papers often represent preliminary work citation of source is required when used or reproduced. As opiniões expressas neste trabalho são exclusivamente do s autor es e não refletem necessariamente a visão do Banco Central do Brasil. Ainda que este artigo represente trabalho preliminar é requerida a citaỊão da fonte mesmo quando reproduzido parcialmente. Consumer Complaints and Public Enquiries Center Banco Central do Brasil Secre Surel Diate SBS - Quadra 3 - Bloco B - Edificio-Sede - 2 subsolo 70074-900 Brasilia - DF - Brazil Fax 55 61 3414-2553 Internet http .