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Stock Returns, Real Activity, Inflation, and Money: Reply
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This article is published in The American Economic Review.The article was published on 1983-01-01 and is currently open access. It has received 21 citations till now. The article focuses on the topics: Stock market bubble & Stock exchange.read more
Citations
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The impact of oil price shocks on the u.s. stock market
Lutz Kilian,Cheolbeom Park +1 more
TL;DR: In this paper, the reaction of U.S. real stock returns to an oil price shock differs greatly depending on whether the change in the price of oil is driven by demand or supply shocks in the oil market.
Journal ArticleDOI
Stock Returns and Inflation with Supply and Demand Disturbances
Patrick J. Hess,Bong-Soo Lee +1 more
TL;DR: In this paper, the relation between stock returns and inflation with two independent disturbances: supply shocks and demand shocks was investigated. But the relationship between stock return and inflation was not investigated.
Journal ArticleDOI
Stock returns and inflation revisited: An evaluation of the inflation illusion hypothesis
TL;DR: In this article, a structural VAR identification method was used to show that there are two regimes with positive and negative stock return-inflation relations not only in each period of the US but also in every developed country.
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Are common stocks a good hedge against inflation? Evidence from the Pacific-rim countries
Jaeuk Khil,Bong-Soo Lee +1 more
TL;DR: In this paper, the authors explore whether the observed real stock return-inflation relations in the U.S. and 10 Pacific-rim countries for the sample period of 1970-1997 can be explained by the interaction between real and monetary disturbances.
Journal ArticleDOI
Monetary policy, stock returns and inflation
TL;DR: In this paper, the relationship between stock returns and inflation depends on both the monetary policy regime and the relative importance of demand and supply shocks, and a simple analytical framework by which to empirically examine the relative value of these two factors is developed.
References
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Journal ArticleDOI
Inflation and Real Interest
TL;DR: The theory of interest under inflation has been investigated by as mentioned in this paper, who concluded that the money rate of interest rises by the anticipated rate of inflation or falls by the expected rate of deflation.
Journal ArticleDOI
Inflation, real returns and capital investment
TL;DR: This paper found evidence for the hypothesis of the Mundell-Tobin model that the expected real return component of interest rates is negatively related to the expected inflation component, which is more fundamentally an outcome of the capital expenditures process.
Posted Content
Short-Term Interest Rates as Predictors of Inflation: On Testing the Hypothesis that the Real Rate of Interest is Constant
TL;DR: In this article, the authors present evidence which appears to be consistent with the joint hypothesis that the real rate of interest, ignoring taxes, is a constant and that the market for U.S. Treasury Bills is efficient in the sense of embodying rational expectations.
Related Papers (5)
The Fiscal and Monetary Linkage between Stock Returns and Inflation
Robert Geske,Richard Roll +1 more