Chiodo, Abbigail J.; Guidolin, Massimo; Owyang, Michael T. - 2003 - [Elektronische Ressource], rev
form expectations under uncertainty, e.g.,
expected inflation in macroeconomic models, expected returns in financial models … INFLATION-STOCK RETURNS PUZZLE
Conventional wisdom would prefer nominal stock returns and inflation to be
positively and highly … inflation ought to increase expected nominal dividend payments and cause
upward adjustment of observed stock prices. Empirical …