Gold prices, cost of carry, and expected inflation

被引：92
|
作者：
Blose, Laurence E. [1 ]
机构：
[1] Grand Valley State Univ, DeVos Ctr 474C, Grand Rapids, MI 49504 USA
来源：
JOURNAL OF ECONOMICS AND BUSINESS | 2010年 / 62卷 / 01期
关键词：
Inflation; Bond yield; Gold; Cost of carry;
D O I：
10.1016/j.jeconbus.2009.07.001
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
How do changes in expected inflation affect gold prices? Using unexpected changes in the Consumer Price Index (CPI) this paper shows that surprises in the CPI do not affect gold spot prices. The results indicate that investors anticipating changes in inflation expectations should design speculation strategies in the bond markets rather than the gold markets. Additionally, investors cannot determine market inflation expectations by examining the price of gold. (C) 2009 Elsevier Inc. All rights reserved.
引用
收藏
页码：35 / 47
页数：13
相关论文
共 50 条
12345