, focusing on short-term gains but risking further losses if rates rose. Instead of hedging the market value risk of bank asset …

, we conclude that swap positions are not economically significant in hedging the interest rate risk of bank assets …

hedging approach can eliminate nearly 90 percent of the tracking error of more conventional inflation hedging strategies. We … also find that long-short positions in equities play a dominant role in the effective hedging of inflation risk over …

Much of the opposition to indexation as a means of adapting to on going inflation arises from the view that indexation … deficits are in part financed through the printing of money. It is shown that all aspects of indexing -- wage indexation, bond … indexation, and tax indexation -- tend to increase the impact on the price level of any inflationary shock. However, this …