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Autor:innen: 
Erscheinungsjahr: 
2000
Schriftenreihe/Nr.: 
SFB 373 Discussion Paper No. 2000,93
Verlag: 
Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes, Berlin
Zusammenfassung: 
People dislike inflation because inflation erodes the real value of future nominal income and wealth. Adjustment of future nominal values via a cost of living index is an appropriate way to handle the problem of real income risk. Nonetheless an important aspect needs more discussion: If markets existed in which real income risks could be traded-would a rational individual always voluntarily purchase protection against such risk? A model is developed to shed some light on this aspect. It shows that the optimal behaviour depends - as expected - on the cost of protection and the risk preferences of the individual.
Schlagwörter: 
Cost of Living Index
Futures Markets
JEL: 
D11
D8
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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