Stock Market Returns and Inflation Forecasts
- Full Text PDF
- Author(s): N. BULENT GULTEKIN
- Published: Apr 30, 2012
- Pages: 663-673
- DOI: 10.1111/j.1540-6261.1983.tb02495.x
This study uses data from the Livingston survey of expectations to examine the Fisher hypothesis as a model relating expected stock returns and expected inflation. We show that the Fisher hypothesis holds much better for ex ante expectations than ex post realizations.