McCulloch, J. Huston (contributor); … - 2000 - [Elektronische Ressource], rev
of money at time t for future date T = t+m. By Jensen's Inequality, the three values
are not equal:
),()/1(/1lnexp … and future inflation.18
In addition to the strong Jensen's Inequality effect noted above, there may or may not also be a …
weaker Jensen's Inequality effect separating conditionally expected future inflation from the negative of …