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Mechanisms for Hedging Long Streams of Income

Robert J. Shiller

in Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198294184
eISBN:
9780191596926
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198294182.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

Most people are interested in hedging risk of claims on long‐term income flows, rather than on the risk of the next month's or next year's income, and this means that any market that allows hedgers ... More


National Income and Labor Income Markets

Robert J. Shiller

in Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198294184
eISBN:
9780191596926
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198294182.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

For the purpose of hedging risks to standards of living, the logical place to look first would be to markets for claims on total income; but such markets do not exist, and they have apparently never ... More


Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks

Robert J. Shiller

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198294184
eISBN:
9780191596926
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0198294182.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

This book, which is part of the distinguished Clarendon Lectures in Economics series, puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management ... More


Introduction

Robert J. Shiller

in Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198294184
eISBN:
9780191596926
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198294182.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

In proposing macro markets, this book describes a substantial array of new markets, and attempts to indicate ways around some of the major barriers to the establishment and success of these markets. ... More


The Construction of Index Numbers for Contract Settlement

Robert J. Shiller

in Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198294184
eISBN:
9780191596926
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198294182.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

When creating indices intended for use in cash settlement of futures contracts (or perpetual claims or options, or swaps, or other over‐the‐counter forward contracts or retail insurance contracts), ... More


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