Hermann Remsperger: Heavy tails and stable Paretian distributions in finance and macroeconomics (Central Bank Articles and Speeches)
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چکیده
A different approach for extracting expectations concentrates merely on reading financial data – without the underpinning of a comprehensive economic model. Prices of financial instruments can reveal some expectations. And innovative products are widening the scope of this approach. Inflationlinked swaps, for example, allow the computation of an inflation curve similar to the yield curve, providing information on the expected path of inflation.
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The authors thank the participants at the Deutsche Bundesbank Conference "Heavy Tails and stable Paretian Distributions in Finance and Macroeconomics" in celebration of the 80-th birthday of Professor
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