Stock Returns and Inflation

Mark Crosby ()

No 644, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: In this paper the relationship between inflation and stock returns in Australia is examined. It is found that increases in the price level reduce the real level of the stock price index. However, it is also found that the questionof whether persistent increases in inflation affect real returns cannot be addressed using the Australian data.

Keywords: FINANCIAL MARKET; INFLATION (search for similar items in EconPapers)
JEL-codes: E30 G10 (search for similar items in EconPapers)
Date: 1998

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