Industry Returns and the Fisher Effect.

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Boudoukh, Jacob; Richardson, Matthew; Whitelaw, Robert F;
(1994)
  • Journal: Journal of Finance,volume 49,issue 5 December,pages1,595-1,615

The authors investigate the cross-sectional relation between industry-sorted stock returns and expected inflation, and they find that this relation is linked to cyclical movements in industry output. Stock returns of noncyclical industries tend to covary positively with... View more
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