Year: 1981
Type: report
Abstract: The analysis in this paper was motivated by the apparent puzzle that, despite substantial uncertainty about future inflation rates, private pensions are almost universally unindexed.Moreover, although a variable annuity invested in short-term money market instruments provides a good inflation hedge, almost all private pensions provide a fixed annuity.However, it was only in the late 1960's that inflation began to appear as a
DOI: 10.3386/w0787
Author: Martin Feldstein
Institutions: National Bureau of Economic Research, Harvard University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1537969541