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In this paper, we use a modified concept of Granger-(non)causality in reconsidering the negative correlation between stock returns and inflation known in the literature as stock return-inflation puzzle. Based on the quarterly data for Germany including stock returns, inflation rates and growth...
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growth. This paper utilized a quarterly time series data for the period 1981 - 2009 to estimate a threshold level of … inflation for Nigeria. Using a threshold regression model developed by Khan and Senhadji (2001), the study estimated a threshold … inflation level of 13 per cent for Nigeria. Below the threshold level, inflation has a mild effect on economic activities, while …
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