Indexation, inflation, and monetary policy
Although indexation policies and practices are common in many markets and economies, their implications for market efficiency and price stabilization remain controversial. This book contributes to the literature on indexation and inflation by including nine articles that are at the research frontier...
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| Format: | Libro |
| Language: | eng |
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Banco Central de Chile
2019
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| Online Access: | https://hdl.handle.net/20.500.12580/1653 |
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| Summary: | Although indexation policies and practices are common in many markets and economies, their implications for market efficiency and price stabilization remain controversial. This book contributes to the literature on indexation and inflation by including nine articles that are at the research frontier on these issues. The scope of the articles ranges from specific topics—including the optimal management of indexed public debt and the consequences of wage indexation—to recent empirical evidence regarding indexation and the persistence of inflation. The authors look at specific indexation practices adopted in different markets in response to inflation, discuss the consequences of such practices for these markets, and analyze the relationship among indexation mechanisms, inflation persistence, and the outcome of stabilization programs. |
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