Inflation and financial market performance: what have we learned in the last ten years

John Boyd and Bruce Champ ()

No 317, Working Paper from Federal Reserve Bank of Cleveland

Abstract: The last decade has witnessed a great deal of theoretical and empirical research on the relationships between inflation, financial market performance, and economic growth. This paper provides a survey of that literature and presents new cross-country empirical results on this topic. We find that inflation is negatively associated with banking industry size, real returns on financial assets, and bank profitability. We also discover a positive relationship between asset return volatility and inflation.

New Economics Papers: this item is included in nep-fin, nep-fmk, nep-mac and nep-mfd
Date: 2003
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Persistent link: http://EconPapers.repec.org/RePEc:fip:fedcwp:0317

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