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Disinflation, Equity Valuation, and Investor Rationality

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An examination of the relationship between inflation and equity prices, concluding that equity prices respond rationally to such factors as real interest rates and risk.

Suggested citation: Fons, Jerome S., and William P. Osterberg. “Disinflation, Equity Valuation, and Investor Rationality,” Federal Reserve Bank of Cleveland, Economic Review, vol. 22, no. 4, pp. 02-10, 12.01.1986.

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