There is a large body of literature on which assets are a good hedge against inflation. Most of these studies are concentrated on US or other developed countries. The present study has a wider focus; it examines the inflation hedging properties of three asset classes, namely common stocks, bonds...

This paper investigates the inflation-hedging properties of three asset classes, namely common stocks, bonds and real estate, for thirty-one selected countries which are at different stages of development. Quarterly data for these countries over the period 1973-2017 are deployed for estimation...