Zinserhöhungen bei festverzinslichen Wertpapieren während einer schleichenden Inflation. Ausgleich für inflationsbedingte Realwertverluste?
Year: 1973
Author: Wicke, Lutz
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 93 (1973), Iss. 5 : pp. 567–585
Abstract
Are increases in the interest rates of fixed-interest-bearing securities during a creeping inflation a compensation for losses of real value?
To answer the question, a „Laufzeitrealzinssatz“ has been developped indicating the average real interest rate that securities pay during the whole time of maturity with regard to re-investment of their yields. Starting from the calculation of such interest rates for German fixed-interest-bearing securities it has been pointed out that there is no general answer to the above-mentioned question. Five typical inflationary situations demonstrating price and yield developments have been differentiated. Considering the taxation, at least at four of those five situations a compensation of the loss caused by interest rises during inflation does not or only to a small extent take place
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/schm.93.5.567
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 93 (1973), Iss. 5 : pp. 567–585
Published online: 1973-05
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 19
Author Details
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1984
https://doi.org/10.1007/978-3-663-13081-9_5 [Citations: 0]