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COMMON STOCKS AS A HEDGE AGAINST INFLATION

Authors

  • Zvi Bodie

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    • Assistant Professor of Economics and Finance, Sloan School of Management, Massachusetts Institute of Technology. I am grateful to Stanley Fischer and Robert Merton for their advice and many helpful suggestions and to Boston University for financial support. An earlier draft of this paper was greatly improved by the comments of John Lintner and Steven Shavell. Since writing this paper I have become aware of the papers by Nelson (1975) and Jaffee and Mandelker (1975), which deal with one of the issues discussed in this paper.


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