[go: up one dir, main page]
More Web Proxy on the site http://driver.im/
IDEAS home Printed from https://ideas.repec.org/a/bla/jfinan/v45y1990i2p479-96.html
   My bibliography  Save this article

Relative Price Variability, Real Shocks, and the Stock Market

Author

Listed:
  • Kaul, Gautam
  • Seyhun, H Nejat
Abstract
In this paper, the authors investigate the effects of relative price variability on output and the stock market, and gauge the extent to which inflation proxies for relative price variability in stock-return-inflation regressions. The evidence shows that the negative stock-return-inflation relations proxy for the adverse effects of relative price variability on economic activity, particularly during the 1970s, when the United States experienced oil supply shocks. Hence, it appears that inflation spuriously affects the stock market in two ways: the aggregate output link of E. F. Fama (1981) and the supply shocks reflected in relative price variability. Copyright 1990 by American Finance Association.

Suggested Citation

  • Kaul, Gautam & Seyhun, H Nejat, 1990. "Relative Price Variability, Real Shocks, and the Stock Market," Journal of Finance, American Finance Association, vol. 45(2), pages 479-496, June.
    • Handle: RePEc:bla:jfinan:v:45:y:1990:i:2:p:479-96
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0022-1082%28199006%2945%3A2%3C479%3ARPVRSA%3E2.0.CO%3B2-J&origin=repec
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jfinan:v:45:y:1990:i:2:p:479-96. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/afaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.