Which Improves Welfare More: Nominal or Indexed Bond?
AbstractEconomists have long argued that loan contracts should be indexed to remove the risks arising from fluctuations in the purchasing power of money: indexation however while eliminating one risk, sustitutes another, arising from fluctuations in relative prices of goods. We present a theoretical framework which permits the relative merits of a nominal versus and an indexed bond to be assessed in a general equilibrium setting.
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Bibliographic InfoPaper provided by Southern California - Department of Economics in its series Papers with number 9521.
Length: 43 pages
Date of creation: 1995
Date of revision:
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Postal: UNIVERSITY OF SOUTHERN CALIFORNIA, DEPARTMENT OF ECONOMICS, UNIVERSITY PARK LOS ANGELES CALIFORNIA 90089-0152 U.S.A.
Phone: (213) 740-8335
Fax: (213) 740-8543
Web page: http://www.usc.edu/dept/LAS/economics/
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SOCIAL WELFARE; INFLATION;
Other versions of this item:
- MAGILL, Michael & QUINZII, Martine, 1995. "Which Improves Welfare More : Nominal or Indexed Bond ?," CORE Discussion Papers 1995072, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Magill, M. & Quinzii, M., 1995. "Which Improves Welfare More: Nominal or Indexed Bond?," Papers 95-20, California Davis - Institute of Governmental Affairs.
- Magill, M. & Quinzii, M., 1995. "Which Improves Welfare More: Nominal or Indexed Bond?," Department of Economics 95-20, California Davis - Department of Economics.
- Martine Quinzii & Michael Magill, 2004. "Which Improves Welfare More: Nominal Or Indexed Bond?," Working Papers 9520, University of California, Davis, Department of Economics.
- Michael Magill & Martine Quinzii, 1995. "Which Improves Welfare More: Nominal or Indexed Bond?," Discussion Paper Serie A 511, University of Bonn, Germany.
- J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
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- Ceyhun Bora Durdu, 2007.
"Quantitative Implications of Indexed Bonds in Small Open Economies,"
2007 Meeting Papers
482, Society for Economic Dynamics.
- Durdu, Ceyhun Bora, 2009. "Quantitative implications of indexed bonds in small open economies," Journal of Economic Dynamics and Control, Elsevier, vol. 33(4), pages 883-902, April.
- Ceyhun Bora Durdu, 2007. "Quantitative implications of indexed bonds in small open economies," International Finance Discussion Papers 909, Board of Governors of the Federal Reserve System (U.S.).
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