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Ambiguity Aversion and the Absence of Indexed Debt

S. Mokerji and Jean-Marc Tallon ()

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: Inspite of wide and lond-standing support among economists for indexation of loan contracts there has been relatively little use of indexation, except in situations of extremely high inflation. The object of this paper is to provide a (theoretical) explanation for this puzzling phenomenon based on the hypothesis that economic agents are ambiguity averse.

Keywords: DEBT; INFLATION (search for similar items in EconPapers)
JEL-codes: D81 D50 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2000
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Journal Article: Ambiguity aversion and the absence of indexed debt (2004) Downloads
Working Paper: Ambiguity aversion and the absence of indexed debt (2004)
Working Paper: Ambiguity Aversion and the Absence of Indexed Debt (2000) Downloads
Working Paper: Ambiguity Aversion and the Absence of Indexed Debt (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:2000.53

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