search query: @author Shiller, R. / total: 2
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| Author: | Shiller, R. |
| Title: | Aggregate income risks and hedging mechanisms |
| Journal: | Quarterly Review of Economics and Finance
1995 : SUMMER, VOL. 35:2, p. 119-151 |
| Index terms: | INCOMES RISK HEDGING |
| Language: | eng |
| Abstract: | Estimates are made, from time series data on real gross domestic products, of the standard deviation of returns in markets for perpetual claims on countries' income. The results indicate that there is much fundamental uncertainty to be hedged. Evidence is shown that there may be only minimal ability to cross hedge these returns in existing capital markets. Methods of establishing markets for perpetual claims on aggregate incomes are examined. |
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