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Indexed bonds as an aid to monetary policy

Robert L. Hetzel
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Robert L. Hetzel: Federal Reserve Bank of Richmond

Economic Review, 1992, issue jan, 13-23

Abstract: A measure of the publics expectation of inflation would assist the Fed in formulating monetary policy. In order to create such a measure, the U.S. Treasury could issue its debt in two forms: standard debt and debt indexed for inflation. The difference in yield on these two forms of debt would measure the publics expectation of inflation.

Keywords: Indexation (Economics); Monetary policy; Treasury bonds (search for similar items in EconPapers)
Date: 1992
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