We examine the inflation-hedging properties of various financial assets and portfolios by estimating simple time … 30 years. There is no one-size-fits-all approach to inflation hedging: the optimal hedge depends on the particular types … - 2022, many historical hedging relationships failed, as monetary policy tightening lagged inflation. …

value of benefits can often be neglected, especially under indexation to prices. At high and accelerating …, proportional indexation of benefits in progress devalues the lowest benefits, paying for above-the-average consumption share of …

an indexation lag, and the term structure of expected inflation. Unlike prior studies, the model’s parameters are …