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Inflation and financial market performance

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Author Info
John H. Boyd
Ross E. Levine
Bruce D. Smith

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Abstract

An exploration of the cross-sectional relationship between inflation and an array of indicators of financial market conditions, using time-averaged data covering several decades and a large number of countries.

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File URL: http://www.clevelandfed.org/research/workpaper/1996/wp9617.pdf
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Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9617.

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Date of creation: 1996
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Handle: RePEc:fip:fedcwp:9617

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Keywords: Financial markets ; Inflation (Finance);

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Boudoukh, Jacob & Richardson, Matthew, 1993. "Stock Returns and Inflation: A Long-Horizon Perspective," American Economic Review, American Economic Association, vol. 83(5), pages 1346-55, December. [Downloadable!] (restricted)
  2. Schwert, G William, 1989. " Why Does Stock Market Volatility Change over Time?," Journal of Finance, American Finance Association, vol. 44(5), pages 1115-53, December. [Downloadable!] (restricted)
    Other versions:
  3. Demirguc-Kunt, Ash & Levine, Ross, 1996. "Stock Market Development and Financial Intermediaries: Stylized Facts," World Bank Economic Review, Oxford University Press, vol. 10(2), pages 291-321, May.
    Other versions:
  4. Breen, William & Glosten, Lawrence R & Jagannathan, Ravi, 1989. " Economic Significance of Predictable Variations in Stock Index Returns," Journal of Finance, American Finance Association, vol. 44(5), pages 1177-89, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Beck, Thorsten & Buyukkarabacak, Berrak & Rioja, Felix & Valev, Neven, 2008. "Who gets the credit ? and does it matter ? household vs. firm lending across countries," Policy Research Working Paper Series 4661, The World Bank. [Downloadable!]
    Other versions:
  2. Paul Wachtel & Peter L. Rousseau, 2000. "Inflation, Financial Development and Growth," Working Papers 00-10, New York University, Leonard N. Stern School of Business, Department of Economics. [Downloadable!]
  3. Bhattacharya, Joydeep, 2003. "Monetary Policy And The Distribution Of Income," Staff General Research Papers 11072, Iowa State University, Department of Economics. [Downloadable!]
  4. Bruce D. Smith & Mohsin S. Khan & A. Senhadji Semlali, . "Inflation and Financial Depth," IMF Working Papers 01/44, International Monetary Fund. [Downloadable!]
    Other versions:
  5. Jakob Madsen, 2007. "Pitfalls in estimates of the relationship between stock returns and inflation," Empirical Economics, Springer, vol. 33(1), pages 1-21, July. [Downloadable!] (restricted)
  6. Alexandros Kontonikas & Alberto Montagnoli & Nicola Spagnolo, 2006. "Stock Returns and Inflation: The Impact of Inflation Targeting," Working Papers 2005_11, Department of Economics, University of Glasgow. [Downloadable!]
  7. John Boyd & Bruce Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years," Working Paper 0317, Federal Reserve Bank of Cleveland. [Downloadable!]
  8. Marco Espinosa-Vega & Steven Russell, 1998. "The long-run real effects of monetary policy: Keynesian predictions from a neoclassical model," Working Paper 98-6, Federal Reserve Bank of Atlanta. [Downloadable!]
  9. Ivanna Vladkova Hollar & Carlo Cottarelli & Giovanni Dell'Ariccia, 2003. "Early Birds, Late Risers, and Sleeping Beauties: Bank Credit Growth to the Private Sector in Central and Eastern Europe and in the Balkans," IMF Working Papers 03/213, International Monetary Fund. [Downloadable!]
    Other versions:
  10. Jill A. Holman, 2000. "Government budgetary policies, economic growth, and currency substitution in a small open economy," Research Working Paper RWP 00-08, Federal Reserve Bank of Kansas City. [Downloadable!]
  11. Jakob B. Madsen, 2004. "Pitfalls in Estimates of Relationship between Share Returns and Inflation," FRU Working Papers 2004/07, University of Copenhagen. Department of Economics. Finance Research Unit. [Downloadable!]
  12. Dandan Liu & Dennis Jansen & Qi Li, 2005. "Regime switching in the dynamic relationship between stock returns and inflation," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 1(5), pages 273-277, September. [Downloadable!] (restricted)
  13. Javier Andrés & Ignacio Hernando & J. David López-Salido, 1999. "The Role of the Financial System in the Growth-Inflation Link: the OECD Experience," Banco de España Working Papers 9920, Banco de España. [Downloadable!]
    Other versions:
  14. Sangmok Choi & Bruce D. Smith & John H. Boyd, 1996. "Inflation, financial markets and capital formation," Proceedings, Federal Reserve Bank of St. Louis, issue May, pages 9-35. [Downloadable!]
    Other versions:
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