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The Effect of Inflation on Stock Prices: International Evidence
12 references·7 citing·42 second hop
The Effect of Inflation on Stock Prices: International Evidence (1981)The Effect of Inflation on Stock Prices: …The cost of capital, corporation finance and the theory of investment (2008)The cost of capital, corporat…Inflation, Tax Rules, and the Stock Market (1979)Inflation, Tax Rules, and the…Inflation, Rational Valuation and the Market (1979)Inflation, Rational Valuation…An introduction to multinational accounting (1978)An introduction to multinatio…Asset returns and inflation (1977)Asset returns and inflationThe "Fisher Effect" for Risky Assets: An Empirical Investigation (1976)The "Fisher Effect" for Risky…THE “FISHER EFFECT” FOR RISKY ASSETS: AN EMPIRICAL INVESTIGATION (1976)THE “FISHER EFFECT” FOR RISKY…INFLATION AND RATES OF RETURN ON COMMON STOCKS (1976)INFLATION AND RATES OF RETURN…COMMON STOCKS AS A HEDGE AGAINST INFLATION (1976)COMMON STOCKS AS A HEDGE AGAI…INFLATION AND SECURITY RETURNS* (1975)INFLATION AND SECURITY RETURN…Inflation accounting : report of the Inflation Accounting Committee (1975)Inflation accounting : report…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Cost of Capital, Corporat…Quantitative easing and exuberance in stock markets: Evidence from the euro area (2021)Quantitative easing and exube…Are common stocks a hedge against inflation in emerging markets? (2018)Are common stocks a hedge aga…Stocks, bonds, T-bills and inflation hedging: From great moderation to great recession (2015)Stocks, bonds, T-bills and in…Relationship between inflation and stock market returns: Evidence from Nigeria (2010)Relationship between inflatio…The development of inflation accounting in Turkey (2008)The development of inflation …Monetary policy, stock returns and inflation (2005)Monetary policy, stock return…Semi-Parametric Estimation and the Predictability of Stock Market Returns: Some Lessons from Japan (1991)Semi-Parametric Estimation an…PORTFOLIO SELECTION* (1952)Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case (1969)Optimum consumption and portfolio rules in a continuous-time model (1971)Stock returns and inflation (1987)Virtual currency, tangible return: Portfolio diversification with bitcoin (2015)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Decline of Inflation and the Bull Market of 1982-1999 (2002)Macro variables and international stock return predictability (2004)Relationship between Macroeconomic Variables and Stock Market Indices: Cointegration Evidence from Stock Exchange of Singapore's All-S Sector Indices (2005)Short- Term Interest Rates as Predictors of Inflation (2021)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Expected stock returns and volatility (1987)Efficient Capital Markets: II (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)Inflation, Tax Rules, and Investment: Some Econometric Evidence (1980)Stock Returns, Real Activity, Inflation, and Money (1981)The incidence and allocation effects of a tax on corporate distributions (1981)The Dynamic Impact of Macroeconomic Aggregates on Housing Prices and Stock of Houses: A National and Regional Analysis (1998)Inflation Uncertainty, Asset Valuations, and the Credit Spreads Puzzle (2007)Time Series Analysis: Forecasting and Control (1977)Stock Market Returns and Inflation: Evidence from Other Countries (1983)Forecasting stock market returns: The sum of the parts is more than the whole (2011)How Much Do Investors Care About Macroeconomic Risk? Evidence from Scheduled Economic Announcements (2013)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Law and Finance (1998)Industry Returns and the Fisher Effect (1994)Reexamining Stock Valuation and Inflation: The Implications Of Analysts' Earnings Forecasts (2002)What Matters to Individual Investors? Evidence from the Horse's Mouth (2020)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)Asset Pricing at the Millennium (2000)Beyond Greed and Fear (2002)Behavioral finance (2003)The Relation Between Stock Prices and Inflationary Expectations: The International Evidence (1983)Asset Pricing and Expected Inflation (1986)Macro economy, stock market and oil prices: Do meaningful relationships exist among their cyclical fluctuations? (2010)
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References

  • 1958The Cost of Capital, Corporation Finance and the Theory of Investment14,494 cited
  • 2008The cost of capital, corporation finance and the theory of investment8,614 cited
  • 1977Asset returns and inflation2,701 cited
  • 1979Inflation, Rational Valuation and the Market944 cited
  • 1976COMMON STOCKS AS A HEDGE AGAINST INFLATION697 cited
  • 1976INFLATION AND RATES OF RETURN ON COMMON STOCKS567 cited
  • 1976THE “FISHER EFFECT” FOR RISKY ASSETS: AN EMPIRICAL INVESTIGATION357 cited
  • 1976The "Fisher Effect" for Risky Assets: An Empirical Investigation285 cited
  • 1975INFLATION AND SECURITY RETURNS*265 cited
  • 1979Inflation, Tax Rules, and the Stock Market138 cited
  • 1975Inflation accounting : report of the Inflation Accounting Committee59 cited
  • 1978An introduction to multinational accounting59 cited

Cited by

  • 2015Stocks, bonds, T-bills and inflation hedging: From great moderation to great recession41 cited
  • 2008The development of inflation accounting in Turkey35 cited
  • 2005Monetary policy, stock returns and inflation34 cited
  • 1991

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Semi-Parametric Estimation and the Predictability of Stock Market Returns: Some Lessons from Japan
31 cited
  • 2010Relationship between inflation and stock market returns: Evidence from Nigeria26 cited
  • 2021Quantitative easing and exuberance in stock markets: Evidence from the euro area17 cited
  • 2018Are common stocks a hedge against inflation in emerging markets?15 cited