Disinflation, Equity Valuation, and Investor Rationality
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.