Ambiguity Aversion and the Absence of Indexed Debt.

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.

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Year of publication:	2000
Authors:	Mokerji, S. ; Tallon, J.M.
Institutions:	Centre de recherche de mathématiques et économie mathématique (CERMSEM), Centre d'Économie de la Sorbonne
Subject:	DEBT \| INFLATION

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Series:	Papiers d'Economie Mathématique et Applications.
Type of publication:	Book / Working Paper
Notes:	27 pages
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; D50 - General Equilibrium and Disequilibrium. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005630652