Relative uncertainty
In models of price level or inflation uncertainty the budget constraint is not linear in the random variable. We show that in a wide class of these models the appropriate measure of uncertainty is a relative one.
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| Veröffentlicht in: | Economics letters 1989, Vol.29 (4), p.307-310 |
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| 1. Verfasser: | |
| Format: | Artikel |
| Sprache: | eng |
| Online-Zugang: | Volltext |
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| Zusammenfassung: | In models of price level or inflation uncertainty the budget constraint is not linear in the random variable. We show that in a wide class of these models the appropriate measure of uncertainty is a relative one. |
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| ISSN: | 0165-1765 1873-7374 |
| DOI: | 10.1016/0165-1765(89)90207-3 |