Do European real estate stocks hedge inflation? Evidence from developed and emerging markets
This study examines the inflation hedging properties of real estate stocks in developed and emerging European markets over 1990 to 2011. A dynamics ordinary least squares (DOLS) regression is employed to study the long-run inflation properties of European real estate stocks. The preliminary results show that developed real estate stocks provide a positive inflation hedge against expected inflation over the long run, while no similar evidence is found in the emerging markets. The finding suggests that the inflation-hedging properties of real estate stocks are related to institutional involvement in the real estate stock markets. The finding could have profound implications to institutional investors.
Year of publication: |
2012
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Authors: | Lee, Chyi Lin ; Lee, Ming-Long |
Institutions: | European Real Estate Society - ERES |
Saved in:
freely available
Extent: | text/html |
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Series: | ERES. |
Type of publication: | Book / Working Paper |
Source: |
Persistent link: https://www.econbiz.de/10010834630
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