The negative relationship between real stock return and inflation puzzled many as it contradicts conventional Fisherian wisdom. Fama [Fama, E.F. (1981), "Stock returns, real activity, inflation and money", American Economic Review, 71(September), 545-564.] gave an explanation for this negative...

This study examines whether the Currency Equivalent (CE) Monetary Aggregates proposed by (Hutt, 1963) and (Rotemberg et al., 1995) can perform better in predicting inflation as compared to their simple sum counterparts. The components of four official measures of monetary constructs - M1, M2, M3...