The effects of expected inflation on real returns in the argentine indexed bond market |
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| Institution: | 1. Resident Physician in Oral and Maxillofacial Surgery, LAC+USC Medical Center, Keck Medical Center of USC, Herman Ostrow School of Dentistry of USC, Los Angeles, CA;2. Dental Student, Herman Ostrow School of Dentistry of USC, Los Angeles, CA;3. Associate Professor of Clinical Medicine, Keck School of Medicine of USC, Los Angeles, CA;4. Resident Physician in Oral and Maxillofacial Surgery, LAC+USC Medical Center, Keck Medical Center of USC, Herman Ostrow School of Dentistry of USC, Los Angeles, CA;6. Resident Physician in Oral and Maxillofacial Surgery, LAC+USC Medical Center, Keck Medical Center of USC, Herman Ostrow School of Dentistry of USC, Los Angeles, CA;5. Assistant Professor in Oral and Maxillofacial Surgery, LAC+USC Medical Center, Keck Medical Center of USC, Herman Ostrow School of Dentistry of USC, Los Angeles, CA;1. School of Engineering, University of Glasgow, Glasgow G12 8QQ, United Kingdom;2. The George W. Woodruff School of Mechanical Engineering, Georgia Institute of Technology, Atlanta, GA 30332, USA;3. School of Engineering, University of California, Merced, CA 95348, USA;1. Department of Environmental Sciences, Applied and Environmental Geology, University of Basel, Switzerland;2. Hochschule Nordhausen, Germany;1. Veterans Health Administration (VA), Denver Seattle Center of Innovation for Veteran-Centered Value-Driven Care, VA Puget Sound Health Services Research and Development, United States;2. University of Washington, Department of Health Services, United States;3. VA Palo Alto Health Care System, United States;4. The Kidney Health Research Collaborative, University of California, San Francisco and San Francisco VA Medical Center, San Francisco, CA, United States;5. Division of Epidemiology and Community Health, University of Minnesota School of Public Health, United States;6. Kaiser Permanente Washington Health Research Institute, United States;1. School of Environmental Science and Engineering, Tianjin University, Tianjin 300072, China;2. Key Laboratory of Efficient Utilisation of Low and Medium Grade Energy, MOE, Tianjin University, Tianjin 300072, China;3. School of Architecture, Tianjin University, Tianjin 300072, China;4. The Bartlett School of Sustainable Construction, University College London (UCL), 1-19 Torrington Place, London WC1E 7HB, United Kingdom;1. Kutateladze Institute of Thermophysics, Siberian Branch, Russian Academy of Sciences, 1 Ac. Lavrentyev Avenue, Novosibirsk, 630090, Russia;2. Melentiev Energy Systems Institute, Siberian Branch, Russian Academy of Sciences, 130 Lermontov Street, Irkutsk, 664033, Russia |
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| Abstract: | A relatively unrestricted market in goverment indexed bonds operated in the high-inflation Argentine economy from 1975 through 1982. The indexed bond yields from this period provide an interesting opportunity to examine the relation between real interest rates and expected inflation. The test results support the hypothesis that expected inflation is a significant source of variation in real interest rates, depressing the real yields on indexed bonds. |
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