References
- Akyurek, C.; A.M. Kutan; and H. Yilmazkuday. 2011. "Can Inflation Targeting Regimes Be Effective in Developing Countries? The Turkish Experience." Journal of Asian Economics 22, no. 5: 343-355.
- Albuquerque, P.H., and S. Gouvea. 2009. "Canaries and Vultures: A Quantitative History of Monetary Mismanagement in Brazil." Journal of International Money and Finance 28, no. 3: 479-495.
- Araújo, E. 2009. "Macroeconomic Shocks and the Co-Movement of Stock Returns in Latin America." Emerging Markets Review 10, no. 4: 331-344.
- Atkins, F.J. 1989. "Co-Integration, Error Correction and the Fisher Effect." Applied Economics 21, no. 12: 1611-1620.
- Balcilar, M. 2004. "Persistence in Inflation: Does Aggregation Cause Long Memory?" Emerging Markets Finance & Trade 40, no. 5 (September-October): 25-56.
- Bank for International Settlements. 2010. "80th BIS Annual Report." Basel, June 28 (available at www.bis.org/publ/arpdf/ar2010e.htm
- Berument, H., and K. Malatyali. 2001. "Determinants of Interest Rates in Turkey." Russian and East European Finance & Trade 37, no. 1 (January-February): 5-16.
- Billmeier, A., and I. Massa. 2009. "What Drives Stock Market Development in Emerging Markets—Institutions, Remittances, or Natural Resources?" Emerging Markets Review 10, no. 1: 23-35.
- BM&FBOVESPA. 2010. "Annual Report." São Paulo (available at www.bmfbovespa.com.br/pt-br/a-bmfbovespa/download/BMFVOVESPA-Relatorio-Anual-2010.pdf
- Boudoukh, J., and M. Richardson. 1993. "Stock Returns and Inflation: A Long-Horizon Perspective." American Economic Review 83, no. 5: 1346-1355.
- Breen, W.; L.R. Glosten; and R. Jagannathan. 1989. "Economic Significance of Predictable Variations in Stock Index Returns." Journal of Finance 44, no. 5: 1177-1189.
- Campbell, J.Y. 1987. "Stock Returns and the Term Structure." Journal of Financial Economics 18, no. 2: 373-399.
- Carneiro, F.G.; J.A. Divino; and C.H. Rocha. 2003. "Reconsiderando o efeito Fisher: uma análise de cointegração entre taxas de juros e inflação" [Reconsidering the Fisher Effect: An Analysis of Cointegration Between Interest Rates and Inflation]. Nova Economia 13, no. 1 (January-June): 81-101.
- Carvalhal da Silva, A., and A. Subrahmanyam. 2007. "Dual-Class Premium, Corporate Governance, and the Mandatory Bid Rule: Evidence from the Brazilian Stock Market." Journal of Corporate Finance 13, no. 1: 1-24.
- Choudhry, T. 2001. "Inflation and Rates of Return on Stocks: Evidence from High Inflation Countries." Journal of International Financial Markets, Institutions and Money 11, no. 1: 75-96.
- Choudhry, T., and R.C. Pimentel. 2010. "Do Stock Returns Hedge Against High and Low Inflation? Evidence from Brazilian Companies." The Review of Finance and Banking 2, no. 2: 61-76.
- Crowder, W.J., and D.L. Hoffman. 1996. "The Long Run Relationship Between Nominal Interest Rates and Inflation: The Fisher Equation Revised." Journal of Money, Credit and Banking 28, no. 1: 103-118.
- Daniels, J.P.; F. Nourzad; and R.K. Toutkoushian. 1996. "Testing the Fisher Effect as a Long-Run Equilibrium Relation." Applied Financial Economics 6, no. 2: 115-120.
- Da Silveira, A.D.M., and A.L. Dias Jr. 2010. "What Is the Impact of Bad Governance Practices in a Concentrated Ownership Environment?" International Journal of Disclosure and Governance 7, no. 1: 70-91.
- Du, D. 2006. "Monetary Policy, Stock Returns and Inflation." Journal of Economics and Business 58, no. 1: 36-54.
- El-Shagi, M. 2011. "Inflation Expectations: Does the Market Beat Econometric Forecasts?" North America Journal of Economics and Finance 22, no. 3: 298-319.
- Fama, E.F. 1975. "Short-Term Interest Rates as Predictors of Inflation." American Economic Review 65, no. 3: 269-283.
- Fama, E.F., and G.W. Schwert. 1977. "Asset Returns and Inflation." Journal of Financial Economics 5, no. 2: 115-146.
- Ferson, W.E. 1989. "Changes in Expected Security Returns, Risk, and the Level of Interest Rates." Journal of Finance 44, no. 5: 1191-1217.
- Fisher, I. 1930. The Theory of Interest. New York: Macmillan.
- Garcia, M.G.P. 1993. "The Fisher Effect in a Signal Extraction Framework: The Recent Brazilian Experience." Journal of Development Economics 41, no. 1: 71-93.
- Garcia, M.G.P. 1996. "Avoiding Some Costs of Inflation and Crawling Toward Hyperinflation: The Case of the Brazilian Domestic Currency Substitute." Journal of Development Economics 51, no. 1: 139-159.
- Genc, I.H., and M. Balcilar. 2012. "Effectiveness of Inflation Targeting in Turkey." Emerging Markets Finance & Trade 48, supp. 5 (November-December): 35-47.
- Geske, R., and R. Roll. 1983. "The Fiscal and Monetary Linkage Between Stock Returns and Inflation." Journal of Finance 38, no. 1: 1-33.
- Glosten, L.R.; R. Jagannathan; and D.E. Runkle. 1993. "On the Relation Between the Expected Value and the Volatility of the Nominal Excess Returns on Stocks." Journal of Finance 48, no. 5: 1779-1801.
- Goldfajn, I. 2000. "Public Debt Indexation and Denomination: The Case of Brazil." International Journal of Finance and Economics 5, no. 1: 43-56.
- Granger, C.W.J. 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods." Econometrica 37, no. 3: 424-438.
- Gul, E., and A. Ekinci. 2006. "The Causal Relationship Between Nominal Interest Rates and Inflation: The Case of Turkey." Scientific Journal of Administrative Development 23, no. 4: 54-69.
- Hasan, M.S. 2008. "Stock Returns, Inflation and Interest Rates in the United Kingdom." The European Journal of Finance 14, no. 8: 687-699.
- Hasanov, M., and T. Omay. 2011. "The Relationship Between Inflation, Output Growth, and Their Uncertainties: Evidence from Selected CEE Countries." Emerging Markets Finance & Trade 47, supp. 3 (July-August): 5-20.
- Hondroyiannis, G.; and E. Papapetrou. 2006. "Stock Returns and Inflation in Greece: A Markov Switching Approach." Review of Financial Economics 15, no. 1: 76-94.
- International Monetary Fund. 2011. "World Economic and Financial Surveys: World Economic Outlook Database." Washington, DC, April (available at www.imf.org/external/pubs/ft/weo/2011/01/weodata/index.aspx
- Jaffe, J.F., and G. Mandelker. 1976. "The ‘Fisher Effect’ for Risky Assets: An Empirical Investigation." Journal of Finance 31, no. 2: 447-458.
- Kara, H., and F. Öğünç. 2008. "Inflation Targeting and Exchange Rate Pass-Through: The Turkish Experience." Emerging Markets Finance & Trade 44, no. 6 (November-December): 52-66.
- Kasman, S.; A. Kasman; and E. Turgutlu. 2006. "Fisher Hypothesis Revisited: A Fractional Cointegration Analysis." Emerging Markets Finance & Trade 42, no. 6 (November-December): 59-76.
- Katzur, T.; and L. Spierdijk. 2010. "Stock Returns and Inflation Risk: Implications for Portfolio Selection." Discussion Paper no. 11/2010-051, Netspar, Tilburg, Netherlands.
- Lee, B.-S. 1992. "Causal Relations Among Stock Returns, Interest Rates, Real Activity, and Inflation." Journal of Finance 47, no. 4: 1591-1603.
- Lin, S.-C. 2009. "Inflation and Real Stock Returns Revisited." Economic Inquiry 47, no. 4: 783-795.
- Luintel, K.B., and K. Paudyal. 2006. "Are Common Stocks a Hedge Against Inflation?" Journal of Financial Research 29, no. 1 (Spring): 1-19.
- Malliaropulos, D. 2000. "A Note on Nonstationarity, Structural Breaks, and the Fisher Effect." Journal of Banking and Finance 24, no. 5: 695-707.
- Mendoza, E.G. 1992. "Fisherian Transmission and Efficient Arbitrage Under Partial Financial Indexation: The Case of Chile." IMF Staff Papers 39, no. 1: 121-147.
- Mishkin, F.S. 2008. "Challenges for Inflation Targeting in Emerging Market Countries." Emerging Markets Finance & Trade 44, no. 6 (November-December): 5-16.
- Nelson, C. 1976. "Inflation and Rates of Return on Common Stocks." Journal of Finance 31, no. 2: 471-483.
- Organization for Economic Cooperation and Development. 2009. "Economic Survey of Brazil." Paris (available at www.oecd.org/eco/surveys/listofeconomicsurveysofbrazil.htm
- Phylaktis, K., and D. Blake. 1993. "The Fisher Hypothesis: Evidence from Three High Inflation Economies." Review of World Economics 129, no. 3: 591-599.
- Rushdi, M.; J.H. Kim; and P. Silvapulle. 2012. "ARDL Bounds Tests and Robust Inference for the Long Run Relationship Between Real Stock Returns and Inflation in Australia." Economic Modelling 29, no. 3: 535-543.
- Scruggs, J.T. 1998. "Resolving the Puzzling Intertemporal Relation Between the Market Risk Premium and Conditional Market Variance: A Two-Factor Approach." Journal of Finance 53, no. 2: 575-603.
- Segura-Ubiergo, A. 2012. "The Puzzle of Brazil's High Interest Rates." IMF Working Paper no. 12/62, International Monetary Fund, Washington, DC (available at www.imf.org/external/pubs/ft/wp/2012/wp1262.pdf
- Siklos, P.L. 2008. "Inflation Targeting Around the World." Emerging Markets Finance & Trade 44, no. 6 (November-December): 17-37.
- Thornton, J. 1996. "The Adjustment of Nominal Interest Rates in Mexico: A Study of the Fisher Effect." Applied Economics Letters 3, no. 4: 255-257.
- Vašíček, B. 2011. "Inflation Dynamics and the New Keynesian Phillips Curve in Four Central European Countries." Emerging Markets Finance & Trade 47, no. 5 (September-October): 71-100.
- Vizek, M., and T. Broz. 2009. "Modeling Inflation in Croatia." Emerging Markets Finance & Trade 45, no. 6 (November-December): 87-98.
- Whitelaw, R.F. 1994. "Time Variations and Covariations in the Expectation and Volatility of Stock Market Returns." Journal of Finance 49, no. 2: 515-541.
- World Federation of Exchanges. 2012. "Monthly Reports: Domestic Market Capitalization." London, December 2011 (available at www.world-exchanges.org/statistics/monthly-reports/