Shanmugam, K.R.; Misra, Biswa Swarup - Madras School of Economics - 2008
This study contributes to the stock returns-inflation relation literature in developing countries by revisiting the … effective hedge against inflation using monthly data on real stock return, inflation and real activity from April 1980 to March … real activity; (ii) the negative stock returns-inflation relation emerges from the unexpected component of the inflation …