Hedging For Inflation
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Inflation Hedging For Long Term Investors
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Author : Mr.Shaun K. Roache
language : en
Publisher: International Monetary Fund
Release Date : 2009-04-01
Inflation Hedging For Long Term Investors written by Mr.Shaun K. Roache and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-01 with Business & Economics categories.
Long-term investors face a common problem-how to maintain the purchasing power of their assets over time and achieve a level of real returns consistent with their investment objectives. While inflation-linked bonds and derivatives have been developed to hedge the effects of inflation, their limited supply and liquidity lead many investors to continue to rely on the indirect hedging properties of traditional asset classes. In this paper, we assess these properties over different time horizons, in the context of a diversified portfolio. Using a vector error correction model, we find that effective short-run hedges, such as commodities, may not work over longer horizons and that tactical asset allocation could enhance investment returns following inflation surprises.
The Handbook Of Inflation Hedging Investments
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Author : Robert Greer
language : en
Publisher: McGraw Hill Professional
Release Date : 2005-12-30
The Handbook Of Inflation Hedging Investments written by Robert Greer and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-30 with Business & Economics categories.
Authoritative chapters written by executives at Goldman Sachs, PIMCO, the Chicago Mercantile Exchange, and others Covers key assets that protect against inflation--real estate, commodities, precious metals, inflation-linked bonds, CPI futures, and timber
Handbook Of Inflation Hedging Investments
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Author : Robert Greer
language : en
Publisher:
Release Date : 2000
Handbook Of Inflation Hedging Investments written by Robert Greer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Inflation Linked Bonds And Derivatives
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Author : Jessica James
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2023-01-30
Inflation Linked Bonds And Derivatives written by Jessica James and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-30 with Business & Economics categories.
Disruptions in supply chains and consumption patterns triggered by the pandemic together with stimulus packages and the energy crisis have catapulted inflation rates to levels last seen in the 1970s. For inflation markets, it’s hard to understate this sudden and enormous change in fortunes. Understanding the future evolution of consumer prices has become crucial for investors across all asset classes as central banks tailor their policy responses with a view to anchoring inflation expectations. Inflation-Linked Bonds and Derivatives condenses more than 15 years of dedicated coverage of inflation markets. It provides investors, issuers and policy makers with all the relevant tools to navigate inflation markets, starting with the nuts and bolts of consumer price indices, forwards, carry and trading strategies, to advanced topics like seasonality adjustments and the use of inflation options. With its many illustrative graphs and tabulated data, this exceptional book will benefit traders, corporate treasury departments, fixed income investors, insurance companies and pension funds executives.
Hedging Against Inflation
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Author : Frank Parker Stockbridge
language : en
Publisher: Irwin Professional Pub
Release Date : 1995-06-01
Hedging Against Inflation written by Frank Parker Stockbridge and has been published by Irwin Professional Pub this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-06-01 with Currency question categories.
Gold As An Inflation Hedge In A Time Varying Coefficient Framework
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Author : Joscha Beckmann
language : en
Publisher:
Release Date : 2012
Gold As An Inflation Hedge In A Time Varying Coefficient Framework written by Joscha Beckmann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Variance Minimization And The Theory Of Inflation Hedging Classic Reprint
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Author : Zvi Bodie
language : en
Publisher: Forgotten Books
Release Date : 2018-02-09
Variance Minimization And The Theory Of Inflation Hedging Classic Reprint written by Zvi Bodie and has been published by Forgotten Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-09 with Mathematics categories.
Excerpt from Variance Minimization and the Theory of Inflation Hedging The term hedging against inflation as used in this paper, means reducing the specific kind of risk which stems from uncertainty about the future level of the prices of consumption goods. In other words, we use the term in exactly the same way one would use it to describe the forward purchase or sale of commodities or foreign currencies for the purpose of eliminating the risk of unanticipated changes in spot prices or exchange rates. Just as futures contracts for commodities and foreign currencies are perfect hedges against unantici; pated fluctuations in spot prices and exchange rates, so futures contracts for the specific basket of consumer goods used to define the real value of money the purchasing power of money) would be a perfect hedge against inflation risk. Recently there has been a revival in this country of the proposal to link deferred payments to some index of the cost - of - living like the cpi.3 Effectively an index - linked bond is equivalent to an ordinary nominal bond plus a futures contract on the cpi. For example. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Treasury Bill Futures As Hedges Against Inflation Risk
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Author : Jayendu Patel
language : en
Publisher:
Release Date : 1987
Treasury Bill Futures As Hedges Against Inflation Risk written by Jayendu Patel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Hedging (Finance) categories.
An important risk facing agents in a monetary economy arises from inflation uncertainty: in the U.S. for the 1953-84 period, unexpected quarterly inflation had a standard deviation of 2.1%. The costs of such uncertainty are likely to be even higher for multi-year contracts, since we estimate that a 1% unexpected inflation this year implies an upward revision of 0.43% for expected inflation for the forthcoming year and 1% for the years beyond that. The prospect of hedging inflation risk exposure using conventional financial instruments is bleak, as has been widely documented. We develop a theoretical case for Treasury bill futures as a inflation risk hedge by jointly assuming that (1) the Fisher Hypothesis applies to Treasury bill yields, (2) the Unbiased Expectations Hypothesis (UEH) applies to futures prices, and (3) inflation is an autoregressive process. Our empirical analysis shows that Treasury bill futures can reduce single-period inflation risk by about 30-40%. The expected cost of using such futures is close to zero, since we find that the Unbiased Expectations Hypothesis for Treasury bill futures cannot be rejected. Our results provide new indirect support for the Fisher Hypothesis.
Hedging Against Inflation
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Author : Beverley Hillsdon
language : en
Publisher:
Release Date : 1977
Hedging Against Inflation written by Beverley Hillsdon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Hedging (Finance) categories.
A Theory Of Hedge Investment
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Author : B. Brown
language : en
Publisher: Springer
Release Date : 1982-06-18
A Theory Of Hedge Investment written by B. Brown and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982-06-18 with Business & Economics categories.