Yobaccio, Elizabeth; Rubens, Jack H.; Ketcham, David C. - In: Journal of Real Estate Research 10 (1995) 3, pp. 279-296
This study examines the inflation-hedging abilities of REITs over the period 1972:2-1992:12 to determine whether REITs act as a hedge against expected and/or unexpected inflation. The time period used in this study is substantially longer than in earlier studies. A model of real estate returns...
