• Published 2002

͉ N O . 1 – 2 0 0 2

  title={͉ N O . 1 – 2 0 0 2},
  author={Raimond Maurer and Steffen P. Sebast},
I n t r o d u c t i o n Since the purpose of investment is eventual future consumption, there can be little doubt that one of investors’ essential objectives is to hedge their assets against inflation-triggered depreciation in real terms. In doing so, the investor faces the problem of future changes in the general price level (i.e., the inflation rate) being uncertain from an ex ante point of view. Thus, the real return of an investment is uncertain, even for those ‘safe assets’ whose nominal… CONTINUE READING


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