On the other hand, in periods of deflation, the debtor pays more in real terms than the original agreed value.
The value of the UF in pesos is published daily in all major Chilean newspapers and on government websites.
In 1848, John Stuart Mill discussed the inflation risk of non-indexed units of accounts.
He stated that "All variations in the value of the circulating medium are mischievous: they disturb existing contracts and expectations, and the liability to such changes renders every pecuniary engagement of long date entirely precarious.
"[2] In 1887 William Stanley Jevons referred to previous authors and discussed an indexed unit of account which he calls a "tabular standard of value".