Simpson, Marc; Ramchander, Sanjay; Webb, James - In: The Journal of Real Estate Finance and Economics 34 (2007) 4, pp. 513-529
This paper posits that the failure of past studies to document a positive relationship between REIT (Real Estate Investment Trust) returns and inflation is an artifact of the empirical framework that has predominated in these studies. Applying a pooled estimation methodology to an expansive data...