Contracts and Money

Why are contracts not fully indexed? In a setting in which fully indexed contracts are feasible, we find that when price-level data are gathered with delay, these contracts are not renegotiation-proof. The contracts that replace them entail a lower level of welfare for the parties to that contract. They also imply that real variables respond to nominal shocks

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Year of publication:	1998
Authors:	Jovanovic, Boyan ; Ueda, Masako
Publisher:	[S.l.] : SSRN
Subject:	Prinzipal-Agent-Theorie \| Agency theory \| Theorie \| Theory \| Arbeitsvertrag \| Labour contract \| Risiko \| Risk
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: JOURNAL OF POLITICAL ECONOMY, Vol. 105, No. 4 (August 1997) Volltext nicht verfügbar
Classification:	D82 - Asymmetric and Private Information ; D39 - Distribution. Other ; E24 - Employment; Unemployment; Wages
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014221656