Which Improves Welfare More: Nominal or Indexed Bond ?

Michael Magill and Martine Quinzii

No 1995072, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: Economists 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, substitutes another, arising from fluctuations in relative prices of goods. We present a theoretical framework which allows to assess, in a general equilibrium framework, the relative merits of a nominal versus an indexed bond.

Date: 1995-12-01
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Related works:
Working Paper: WHICH IMPROVES WELFARE MORE: NOMINAL OR INDEXED BOND? (2004)
Journal Article: Which improves welfare more: A nominal or an indexed bond? (1997)
Working Paper: Which Improves Welfare More: Nominal or Indexed Bond? (1995)
Working Paper: Which Improves Welfare More: Nominal or Indexed Bond? (1995)
Working Paper: Which Improves Welfare More: Nominal or Indexed Bond? (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:1995072

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