), inflation and money supply growth, while oft studied, is one that remains unclear. We argue that the nature of the relation …. Notably, a predominantly negative correlation with bond yields and inflation becomes positive, while the opposite is true for … power switches temporarily to positive around economic shocks. This suggests that higher yields, inflation and money growth …

This paper argues that the nature of stock return predictability varies with the level of inflation. We contend that … the nature of relations between economic variables and returns differs according to the level of inflation, due to … different economic risk implications. An increase in low level inflation may signal improving economic conditions and lower …