Title
A Reexamination Of The Proxy Hypothesis
Keywords
Stock Returns; Inflation; Business, Finance
Abstract
In this study we examine whether the proxy hypothesis can explain the puzzling negative relation between real stock returns and expected inflation. Our study improves upon previous tests that suffer from model misspecification and are incomplete. With correctly specified models, we provide a comprehensive test using data from four major industrialized nations during the period of floating exchange rates. Results do not support the proxy hypothesis.
Journal Title
Journal of Financial Research
Volume
16
Issue/Number
3
Publication Date
1-1-1993
Document Type
Article
Language
English
First Page
261
Last Page
268
WOS Identifier
ISSN
0270-2592
Recommended Citation
"A Reexamination Of The Proxy Hypothesis" (1993). Faculty Bibliography 1990s. 840.
https://stars.library.ucf.edu/facultybib1990/840
Comments
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