The purpose of the present paper is to investigate the effects of expected inflation on the general level of common … inflation on P. To anticipate, we find that increases in expected inflation depress current equity prices by bout the same … amount as found in a related study of Modigliani and Cohn: a l00 basis point increase in expected inflation, holding real …

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 …

The effects of inflation adjustments of corporate earnings on market prices were tested by cross section regressions of … negligible. The implication of the results is that market investors use a range of adjustments for the effects of inflation which … the later period 1972-76 than in the earlier period 1966-71. This seemed inconsistent with the higher inflation rates in …

This paper examines the effects of expected inflation on the responsiveness of output to nominal disturbances in the … framework of a localized markets model. The mechanism described in the theoretical part of the paper is that expected inflation … sensitivity of real output to these socks. The empirical implication of this proposition -- namely ,that expected inflation …

In this paper I attempt to clarify the nature of the losses associated with inflation within a conventional model of a … competitive economy. I shall argue that were inflation fully anticipated, it would be "almost neutral" provided (a) that the tax … States). However, unanticipated inflation may have significant effects …

This paper examines the relationship between macroeconomic objectives of controlling inflation and trade … between the two, as a crawling peg exchange-rate policy can prevent inflation from affecting the performance of the foreign … sector. In practice, trade regime objectives have been linked with inflation-reducing objectives, often to the detriment of …

This study describes how accelerating inflation has led households indifferent economic and demographic classes to … that accelerating inflation has, in thee presence of comprehensive ceilings on deposit interest rates, altered the savings … consequences of trying to reconcile deposit-rate. ceilings with accelerating inflation. This combination of policies unpleasantly …

, if not the dominant, cause of U.S. inflation. This is possible only if the international economy has caused a significant … and foreign) contributes negligibly (standard error of O.4 percent per annum) to variations in average inflation. Thus …, except possibly a supporting role in the short run, international economy has contributed negligibly to U.S. inflation …

This paper shows how the interaction of tax rules and expected inflation can decrease substantially the share price per …