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Hypothetical Effects of Introducing Indexation in Belgian Financial Markets

Published online by Cambridge University Press:  17 August 2016

Julio Salas Montes
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Extract

Indexation of wages and salaries as well as of financial assets is a prominent theme in the present discussion on employment and inflation policies in Belgium. Recently, Kervyn and Staes (1975) have analyzed the first question; in this paper we analyze the second.

So far, most contributions to this subject have been theoretical in nature (see Steinherr and Vila (1974), and the literature cited there). The question how indexation might affect demand and supply in financial markets has not been analyzed empirically with any rigor. The main purpose of this paper is to fill this gap partly.

Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 42 , Issue 2 , June 1976 , pp. 135 - 152
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1976 

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Footnotes

*

This research topic and the methodology were suggested by Prof. Alfred Steinherr who also discussed with me and assisted me during this work. To him, to Prof A Kervyn and to the Centrum voor Economische Studiën to whose data I was given access go my thanks.

References

Clavijo, F. and Kervyn, A., « Anemone A Monetary Model for Belgium », Working Paper 7505, U.C.L., 1975.Google Scholar
Euba, N., « Inflationistische Entwicklung und Realwertsicherung von Geldwertvermögen durch Preiswertsicherung », Kredit und Kapiial, n°2, 1974.Google Scholar
Fair, R. and Jaffe, D., « Methods of Estimation for Markets in Disequilibrium », Econometricu, vol. 40 (May, 1972).Google Scholar
Heremans, D., Sommariva, A., Verheirstraeten, A., « A Money and Bank Credit Model for Belgium ». CES, 1974.Google Scholar
Kervyn, A. etStaes, V. « Les salaires, les prix et l’index », Working Paper 7513, U.C.L., 1975.Google Scholar
Modigliani, F., « Some Economie Implications of the Indexing of Financial Assets », mimeo, June, 1974.Google Scholar
OECD, Committee on Financial Markets, Indexation of Fixed-Interest Securities, Paris, 1973.Google Scholar
Steinherr, A. and Vila, G., « Indexation of Monetary Assets : an Instrument Against the Present Inflation », Tijdschrift voor Economie, n°4, 1974.Google Scholar