. Notably, a predominantly negative correlation with bond yields and inflation becomes positive, while the opposite is true for …), inflation and money supply growth, while oft studied, is one that remains unclear. We argue that the nature of the relation … shifting the pattern of behaviour. We show a change in the correlation between each of the three variables with stock returns …

structural break, nonlinearity, asymmetry, and cross-sectional correlation within panel-data estimation including the use of a …