Indexed units of account: theory and assessment of historical experience
An indexed unit of account, such as the Unidad de Fomento (UF) in Chile, is a money analogue that can be used to price items for sale or to specify Amounts to be repaid in the future. While it is in a sense a sort of money, it is not true money since it is not a medium of exchange and it has no phys...
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Banco Central de Chile
2019
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| Acceso en línea: | https://hdl.handle.net/20.500.12580/3629 |
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oai-20.500.12580-36292021-04-24T10:55:46Z Indexed units of account: theory and assessment of historical experience Shiller, Robert J. TIPO DE CAMBIO PRECIOS ÍNDICE DE PRECIOS AL CONSUMIDOR An indexed unit of account, such as the Unidad de Fomento (UF) in Chile, is a money analogue that can be used to price items for sale or to specify Amounts to be repaid in the future. While it is in a sense a sort of money, it is not true money since it is not a medium of exchange and it has no physical embodiment like coins, notes, or reserve balances. An exchange rate between the unit and the true money or legal tender (in Chile, the peso) is defined using an index number (such as the consumer price index), and payments are executed in money. Indexed units of account thus facilitate payments that are tied to the index number, without being a means of payment. 2019-11-01T00:01:51Z 2019-11-01T00:01:51Z 2002 Artículo 956-7421-110 https://hdl.handle.net/20.500.12580/3629 eng Serieson Central Banking, Analysis, and Economic Policies, no. 2 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 105-134 application/pdf Banco Central de Chile |
| institution |
Banco Central |
| collection |
Banco Central |
| language |
eng |
| topic |
TIPO DE CAMBIO PRECIOS ÍNDICE DE PRECIOS AL CONSUMIDOR |
| spellingShingle |
TIPO DE CAMBIO PRECIOS ÍNDICE DE PRECIOS AL CONSUMIDOR Shiller, Robert J. Indexed units of account: theory and assessment of historical experience |
| description |
An indexed unit of account, such as the Unidad de Fomento (UF) in Chile, is a money analogue that can be used to price items for sale or to specify Amounts to be repaid in the future. While it is in a sense a sort of money, it is not true money since it is not a medium of exchange and it has no physical embodiment like coins, notes, or reserve balances. An exchange rate between the unit and the true money or legal tender (in Chile, the peso) is defined using an index number (such as the consumer price index), and payments are executed in money. Indexed units of account thus facilitate payments that are tied to the index number, without being a means of payment. |
| format |
Artículo |
| author |
Shiller, Robert J. |
| author_facet |
Shiller, Robert J. |
| author_sort |
Shiller, Robert J. |
| title |
Indexed units of account: theory and assessment of historical experience |
| title_short |
Indexed units of account: theory and assessment of historical experience |
| title_full |
Indexed units of account: theory and assessment of historical experience |
| title_fullStr |
Indexed units of account: theory and assessment of historical experience |
| title_full_unstemmed |
Indexed units of account: theory and assessment of historical experience |
| title_sort |
indexed units of account: theory and assessment of historical experience |
| publisher |
Banco Central de Chile |
| publishDate |
2019 |
| url |
https://hdl.handle.net/20.500.12580/3629 |
| work_keys_str_mv |
AT shillerrobertj indexedunitsofaccounttheoryandassessmentofhistoricalexperience |
| _version_ |
1718346668716326912 |