The case for GDP‐indexed bonds

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Targeting the Structural Balance (2007, unknown): “For similar reasons Borensztein and Mauro (2002) suggest the adoption of GDP-indexed bonds, which would pay lower interests during recessions, thus reducing the need for adjusting spending in bad times.”
Capital Flows in the Euro Area (2013, background): “For instance, the wider use of GDP-indexed bonds would provide a more stable funding environment for governments and other entities that are vulnerable to national-level risk factors (see also Borensztein and Mauro 2004).”
Domestic and External Public Debt in Developing Countries (2008, background): “…options should evaluate how much they are willing to pay for safer forms of financing and, if the price is right, go ahead and issue debt denominated in domestic currency or other forms of debt with an imbedded insurance component (for instance, GDP indexed debt, see Borensztein and Mauro, 2004).”
Fiscal Rules and the Sovereign Default Premium (2022, background): “15However, we still do not allow the government to issue income-indexed debt (see Bolton and Jeanne (2009), Borensztein and Mauro (2004), Durdu (2009), and Sandleris et al. (2011)).”