Indexed units of account: theory and assessment of historical experience

dc.contributor.author	Shiller, Robert J.
dc.date.accessioned	2019-11-01T00:01:51Z
dc.date.available	2019-11-01T00:01:51Z
dc.date.issued	2002
dc.description	An indexed unit of account, such as the Unidad de Fomento (UF) in Chile, is a money analogue that can be used to price items for sale or to specify Amounts to be repaid in the future. While it is in a sense a sort of money, it is not true money since it is not a medium of exchange and it has no physical embodiment like coins, notes, or reserve balances. An exchange rate between the unit and the true money or legal tender (in Chile, the peso) is defined using an index number (such as the consumer price index), and payments are executed in money. Indexed units of account thus facilitate payments that are tied to the index number, without being a means of payment.
dc.file.name	BCCh-sbc-v02-p105_134
dc.format	.pdf
dc.format.extent	Sección o Parte de un Documento
dc.format.medium	p. 105-134
dc.identifier.isbn	956-7421-110
dc.identifier.uri	https://hdl.handle.net/20.500.12580/3629
dc.language.iso	eng
dc.publisher	Banco Central de Chile
dc.relation.ispartof	Serieson Central Banking, Analysis, and Economic Policies, no. 2
dc.rights	Attribution-NonCommercial-NoDerivs 3.0 Chile	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/cl/	*
dc.subject	TIPO DE CAMBIO	es_ES
dc.subject	PRECIOS	es_ES
dc.subject	ÍNDICE DE PRECIOS AL CONSUMIDOR	es_ES
dc.title	Indexed units of account: theory and assessment of historical experience
dc.type.doc	Artículo

Files

Now showing 1 - 1 of 1