Controlling Inflation : The Problem of Non-Indexed Debt

The Problem of Non-Indexed Debt

Nopic
We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation rate. Conditions for this to occur are discussed in terms of ad hoc and micro-founded models. Solutions to the indeterminacy problem are examined; one solution is shown to be price indexation of debt instruments. READ MORE...

Publication date: March 1988
ISBN 9781451980578
$10.00

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Publication date: March 1988

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