A RE‐EXAMINATION OF THE PROXY HYPOTHESIS

In this study we examine whether the proxy hypothesis can explain the puzzling negative relation between real stock returns and expected inflation. Our study improves upon previous tests that suffer from model misspecification and are incomplete. With correctly specified models, we provide a compreh...

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Veröffentlicht in:	The Journal of financial research 1993-10, Vol.16 (3), p.261-268
Hauptverfasser:	Liu, Y. Angela, Hsueh, L. Paul, Clayton, Ronnie J.
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic activity Economic models Floating exchange rates Hypotheses Inflation Manycountries Monetary policy Rates of return Securities markets Studies
Online-Zugang:	Volltext
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