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Paper: eres2012_155
| Paper title: | Do European real estate stocks hedge inflation? Evidence from developed and emerging markets |
| Authors: | Chyi Lin Lee and Ming-Long Lee |
| Summary: | This study examines the inflation hedging properties of real estate stocks in developed and emerging European markets over 1990 to 2011. A dynamics ordinary least squares (DOLS) regression is employed to study the long-run inflation properties of European real estate stocks. The preliminary results show that developed real estate stocks provide a positive inflation hedge against expected inflation over the long run, while no similar evidence is found in the emerging markets. The finding suggests that the inflation-hedging properties of real estate stocks are related to institutional involvement in the real estate stock markets. The finding could have profound implications to institutional investors. |
| Type: | normal paper |
| Year of publication: | 2012 |
| Series: | ERES:conference |
| Download paper: | |
| Citation: | Chyi Lin Lee and Ming-Long Lee (2012). Do European real estate stocks hedge inflation? Evidence from developed and emerging markets. 19th Annual European Real Estate Society Conference in Edinburgh, Scotland, http://itc.scix.net/paper/eres2012_155 |
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