Pimentel, Rene Coppe; Choudhry, Taufiq - In: Emerging Markets Finance and Trade 50 (2014) 1, pp. 71-92
We analyze the relationship of high inflation and interest rates with stock returns in Brazil from May 1986 to May 2011, during which Brazil experienced subperiods of both high inflation (May 1986-June 1994) and relative monetary stability (July 1994-May 2011). The result in the total period is...