Title

Inflation and Real Stock Prices

Document Type

Article

Publication Date

1997

Publication Source

Applied Financial Economics

Abstract

A time series measure of expectations is used to demonstrate the existence of an inverse relationship between inflation and real stock prices, even after controlling for output shocks. This provides some evidence against Fama's famous conjecture.

Inclusive pages

265-266

ISBN/ISSN

0960-3107

Publisher

Taylor & Francis

Volume

7

Issue

3

Peer Reviewed

yes