Advances in Investment Analysis and Portfolio Management, Volume 8 (Advances in Investment Analysis and Portfolio Management)
Publisher: JAI Press
Published: September 1, 2001
Language: eng
Format: Hardcover
Number of pages: 400
ISBN-13: 9780762307982
Subjects: Investment & securities; Yearbooks, annuals, almanacs; Finance; Business & Economics; Business / Economics / Finance; Business/Economics; General; History; Business & Economics / Finance; Science-History; Social Science / General; Social Science-General; Investments & Securities - General
First sentence: The observed negative relationship between common stock returns and various measures of expected and unexpected inflation during the post-World War II period is "troublesome" because it appears to contradict Fisher's (1930) prediction of a positive relationship between expected inflation and nominal asset returns, and the received wisdom that common stocks are hedges against inflation.