We propose a new approach to constructing inflation tracking portfolios. The key to this approach is the insight that … asset returns track expected inflation far better than they track current realized inflation. Thus, we can construct … portfolios that track next month's inflation much more closely than they track this month's inflation. We show this staggered …

contracts are the only asset whose returns are positively correlated with inflation. By adding them to the portfolios of stocks …

nominal interest rates and expected price inflation, portfolio behavior is the most plausibly flexible in the short run. Since … with expected inflation. Given the importance of this adjustment for questions of both monetary theory and monetary policy … evidence that lenders' portfolio behavior does play an important role in the expected-price-inflation/nominal-interest rate …

these securities represent the only true long-run hedge against inflation risk. CPI-linked bonds make possible the creation … inflation-protected retirement annuities. The introduction of index-linked bonds eliminates one of the main obstacles to the …

This paper presents an explicit model of portfolio demand and uses it to show how the rate of inflation and its … papers which studied how the interaction of inflation and tax rules alter the real prices of land and stock. The analysis …

We study the inflation hedging ability of individual stocks. While the poor inflation hedging ability of the aggregate … inflation. Stocks with good inflation-hedging abilities since 1990 have had higher returns, on average, than stocks with low … inflation betas and tend to be drawn from the Oil and Gas and Technology sectors. However, we show that there is substantial …