1 option
Inflation, Portfolio Choice, and the Price of Land and Corporate Stock / Martin Feldstein.
- Format:
- Book
- Author/Creator:
- Feldstein, Martin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w0526.
- NBER working paper series no. w0526
- Language:
- English
- Subjects (All):
- Inflation (Finance).
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1980.
- Cambridge, Mass. : National Bureau of Economic Research, 1980.
- Summary:
- This paper presents an explicit model of portfolio demand and uses it to show how the rate of inflation and its variances affect the real prices of land and of common stock. The analysis is thus an extension of two of the author's earlier papers which studied how the interaction of inflation and tax rules alter the real prices of land and stock. The analysis shows the importance of going beyond the traditional assumption that net-of-tax yields are equated for all assets.
- Notes:
- Print version record
- August 1980.
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