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Inflation And Asset Returns
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Book Synopsis Inflation and Asset Returns by : Anna Cieslak
Download or read book Inflation and Asset Returns written by Anna Cieslak and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past half-century has seen major shifts in inflation expectations, how inflation comoves with the business cycle, and how stocks comove with Treasury bonds. Against this backdrop, we review the economic channels and empirical evidence on how inflation is priced in financial markets. Not all inflation episodes are created equal. Using in a New Keynesian model, we show how "good" inflation can be linked to demand shocks and "bad" inflation to supply shocks driving the economy. We then discuss asset pricing implications of "good" and "bad" inflation. We conclude by providing an outlook for inflation risk premia in the world of newly rising inflation.
Book Synopsis Output, inflation, and asset returns by : Anindya Biswas
Download or read book Output, inflation, and asset returns written by Anindya Biswas and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Returns and Inflation : New Evidence and Old Findings by : Barbara S. Zoloth
Download or read book Asset Returns and Inflation : New Evidence and Old Findings written by Barbara S. Zoloth and published by . This book was released on 1983 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Returns and Inflation by : Theodore Eugene Day
Download or read book Asset Returns and Inflation written by Theodore Eugene Day and published by . This book was released on 1981 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation and Asset Returns in a Monetary Economy by : David Aaron Marshall
Download or read book Inflation and Asset Returns in a Monetary Economy written by David Aaron Marshall and published by . This book was released on 1988 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Inflation on Asset Returns by : Vijay S. Bawa
Download or read book The Impact of Inflation on Asset Returns written by Vijay S. Bawa and published by . This book was released on 1981 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Linkage Between Inflation and Asset Returns by : Ooi Shee Low
Download or read book The Linkage Between Inflation and Asset Returns written by Ooi Shee Low and published by . This book was released on 2011 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset returns and inflation by : Theodore Eugène Day
Download or read book Asset returns and inflation written by Theodore Eugène Day and published by . This book was released on 1981 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Expected Inflation and Asset Returns by : Javed Bin Kamal
Download or read book Expected Inflation and Asset Returns written by Javed Bin Kamal and published by . This book was released on 2019 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a large body of literature on which assets are a good hedge against inflation. Most of these studies are concentrated on US or other developed countries. The present study has a wider focus; it examines the inflation hedging properties of three asset classes, namely common stocks, bonds and real estates for 45 countries, both developed and developing. The empirical results suggest that all the three classes of assets are not equally good as a hedge against inflation. Common stocks are found not a good hedge against inflation. As expected, bond returns are negatively associated with inflation, implying that they are also not a good hedge against inflation. However, contrary to the expectations, real estate is not found to be an inflation hedge in most countries. Further investigation of the issue with expected, rather than actual inflation, measured by ARIMA-based and Treasury-bill based models, provides mixed results. Overall, there is lack of significant and positive relationship between actual or expected inflation and asset returns.
Book Synopsis Asset Returns, Inflation, and Real Activity in a Monetary Economy by : Concordia University. Department of Economics
Download or read book Asset Returns, Inflation, and Real Activity in a Monetary Economy written by Concordia University. Department of Economics and published by . This book was released on 1986 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Relation Between Asset Returns and Inflation at Short and Long Horizons by : Tom Engsted
Download or read book The Relation Between Asset Returns and Inflation at Short and Long Horizons written by Tom Engsted and published by . This book was released on 2000 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Stock Returns and Inflation Redux: An Explanation from Monetary Policy in Advanced and Emerging Markets by : Mr. Zhongxia Zhang
Download or read book Stock Returns and Inflation Redux: An Explanation from Monetary Policy in Advanced and Emerging Markets written by Mr. Zhongxia Zhang and published by International Monetary Fund. This book was released on 2021-08-20 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classical theories of monetary economics predict that real stock returns are negatively correlated with inflation when monetary policy is countercyclical. Previous empirical studies mostly focus on a small group of developed countries or a few countries with hyperinflation. In this paper, I examine the stock return-inflation relation under different monetary policy regimes and conditions using an expanded dataset of 71 economies. Empirical evidence suggests that the stock return-inflation relation is partially driven by monetary policy. If a country’s monetary authority conducts a more countercyclical monetary policy, the stock return-inflation relation becomes more negative. In addition, the results differ by monetary policy framework. In exchange rate anchor countries, stock markets do not respond to monetary policy cyclicality. In inflation targeting countries, stock markets react more strongly to inflation. A key contribution of this paper is to classify inflation targeters by their behaviors, and illustrate that behavior matters in shaping market perceptions: markets react to inflation and monetary policy cyclicality when central banks are able to control inflation within their target bands. In this case markets are sensitive to inflation dynamics when inflation is above the announced target bands. Finally, when monetary policy is constrained by the Zero Lower Bound (ZLB), a structural break is introduced and real stock returns no longer respond to inflation and monetary policy cyclicality.
Book Synopsis Asset Returns and Inflation Hedges by : Chung Min Lee
Download or read book Asset Returns and Inflation Hedges written by Chung Min Lee and published by . This book was released on 1983 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis National Expectations of Inflation and the Behaviour of Asset Returns in a Stochastic Macro Model by : David K. H. Begg
Download or read book National Expectations of Inflation and the Behaviour of Asset Returns in a Stochastic Macro Model written by David K. H. Begg and published by . This book was released on 1977 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Expectations by : Peter J. N. Sinclair
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Book Synopsis Inflation, Inflation Risks and Asset Returns by : Jo Corkish
Download or read book Inflation, Inflation Risks and Asset Returns written by Jo Corkish and published by . This book was released on 1994 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation, Inflation Uncertainty and Asset Returns by : Javed Bin Kamal
Download or read book Inflation, Inflation Uncertainty and Asset Returns written by Javed Bin Kamal and published by . This book was released on 2019 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The question whether an asset class is a good hedge against inflation is extensively investigated in the finance and economics literature; however, most of these are concentrated on stock returns from developed countries perspectives with little or no evidence on either from alternative asset classes or emerging and developing countries context. Inflation and inflation volatility have a feedback relationship, which affect investor's real return. Despite of that literature is also scare on the relationship of inflation uncertainty and asset returns. Against this backdrop, using Fisher hypotheses as benchmark, this paper investigates whether asset return is hedge against inflation and inflation uncertainty for data of 41 developed, emerging and developing countries for 3 asset classes namely, stocks, bonds and real estate. Given varied monetary, exchange rate policies and institutional arrangement across developed and developing countries, the main argument in this paper is that stock and real estate are better inflation hedges than bonds because they constitute claims against real or physical asset and better adjust with inflation shocks, While for bonds higher, inflation reduces the price of bonds through increase in discount rate and hence decrease bonds returns. Our econometric analysis finds support for real estate not for stocks. As anticipated, investors will not be able to hedge inflation by investing in bonds.
