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An analysis of the inflation-hedging properties of four different asset classes
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| 2.07 MB | Adobe PDF |
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Orientador(es)
Resumo(s)
Rising inflation rates threaten the purchasing power of investors' assets. Therefore, finding
ways to hedge this economic risk would be favorable. This thesis investigates the inflation hedging capabilities of four traditional asset classes with an analysis mainly based on the Fisher
Hypothesis (1930). Its results show that the inflation hedging efficiency is heterogeneous across
the considered assets. While REITs and the S&P 500 act as perverse inflation hedges in the
short term, they show some hedging capability over a long period. Gold and the GSCI, however,
are proven unsuitable to be declared as inflation hedges.
Descrição
Palavras-chave
Inflation-hedging Financial markets Investing Traditional asset classes