Are stocks a hedge against inflation? International evidence using a long-run approach

A large body of evidence indicates that the stock market tends to perform poorly during inflationary time periods. However, these results are mostly obtained from models structured to estimate the short-run relationships between stock returns and inflation. In this paper, we use a reduced-form appro...

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Veröffentlicht in:	Journal of international money and finance 1997-02, Vol.16 (1), p.141-167
Hauptverfasser:	Ely, David P., Robinson, Kenneth J.
Format:	Artikel
Sprache:	eng
Schlagworte:	Commodity prices Economic theory Inflation Manycountries Prices Securities markets Stock prices Stocks Studies
Online-Zugang:	Volltext
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