Title

Price inflation and stock returns

Department/School

Finance

Date of this version

2012

Document Type

Article

Keywords

Inflation, equity premium, dividend yield

Abstract

This letter demonstrates that price inflation and stock returns display differing relationships depending on the measure of inflation used. The regularity that price inflation and stock returns are negatively related in post-World War II depends on the model specification.

Published in

Economics Letters

Citation/Other Information

1(16), 385-388

Creative Commons License

Creative Commons Attribution 3.0 License
This work is licensed under a Creative Commons Attribution 3.0 License.