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Monetary Regimes and the Relation between Stock Return and Inflationary Expectations.
- Source :
- Journal of Financial & Quantitative Analysis; Sep90, Vol. 25 Issue 3, p307-321, 15p
- Publication Year :
- 1990
-
Abstract
- This paper analyzes the impact of changes in monetary policy regimes on the relation between stock returns and changes in expected inflation. Post-war evidence from four countries reveals a direct link between these relations and the central banks' operating targets (i.e., money supply or interest rates). Specifically, the post-war negative relations between stock returns and changes in expected inflation are significantly stronger during interest rate regimes. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00221090
- Volume :
- 25
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Journal of Financial & Quantitative Analysis
- Publication Type :
- Academic Journal
- Accession number :
- 5722628
- Full Text :
- https://doi.org/10.2307/2330698