Aggregate and industry specific common stocks as hedges against inflation: Australian evidence

Ellinor, Simon. (1995). Aggregate and industry specific common stocks as hedges against inflation: Australian evidence Honours Thesis, Dept. of Commerce, The University of Queensland.

       
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Author Ellinor, Simon.
Thesis Title Aggregate and industry specific common stocks as hedges against inflation: Australian evidence
School, Centre or Institute Dept. of Commerce
Institution The University of Queensland
Publication date 1995
Thesis type Honours Thesis
Total pages 119
Language eng
Subjects 14 Economics
Formatted abstract This thesis estimates the extent to which aggregate and industry specific common stocks were hedges against expected and unexpected inflation for the period January 1958 to June 1992. Additionally, the thesis estimates the extent to which the inflation hedging relationships change over time by focusing on subperiods within the overall study period. The results indicate that inflation hedging relationships do change over time, with common stocks proving a particularly poor hedge for the first half of the study period, and an improved hedge for the second half. Individual industries do not generally show consistent patterns as inflation hedges, however resource based industries do appear to be consistently among the best.

 
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