UK Indexed Gilts: A Case Study of Financial Indexation

Charles Goodhart

Chapter 6 in The Future of Financial Systems and Services, 1990, pp 87-103 from Palgrave Macmillan

Abstract: Abstract What change of market practice has a whole series of the world’s greatest economists, such as Jevons, Marshall, Irving Fisher, Keynes and Milton Friedman, virtually unanimously recommended; a change which practical men in authority, notably Central Bank Governors, have generally firmly resisted as far as they could and have only adopted with the utmost reluctance? The answer is a move to index contracts, especially long-term contracts, for example wages, tax brackets and financial contracts.

Keywords: Central Banker; Financial Instrument; Nominal Interest Rate; Cash Holding; Financial Indexation (search for similar items in EconPapers)
Date: 1990
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DOI: 10.1007/978-1-349-10439-0_6

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