Inflation and Real Stock PricesApplied Financial Economics
AbstractA 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.
PublisherTaylor & Francis
Citation InformationTony Caporale and Chulho Jung. "Inflation and Real Stock Prices" Applied Financial Economics Vol. 7 Iss. 3 (1997)
Available at: http://works.bepress.com/tony_caporale/12/