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Trading inflation impossible in a deflationary world
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AT-August 2009-5
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Distorted inflation measures derived from TIPS could aid and abet inflationary policymaking.
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Detailed Description
We will now ask the question of which measure of inflationary expectations derived from the Treasury Inflation-Protected Securities (TIPS) market is more accurate in a deflationary environment: one derived from individual bonds, one derived from swaps, both, or neither?
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