The long‐term inflation‐hedging characteristics of UK commercial property
George Matysiak
(City University Business School, London, UK)
Martin Hoesli
(University of Geneva, Switzerland)
Bryan MacGregor
(University of Aberdeen, Scotland, UK)
Nanda Nanthakumaran
(University of Aberdeen, Scotland, UK)
1517
Abstract
Based on a multivariate analysis of long‐term total returns and inflation data over the period 1963‐1993, shows that commercial property total returns reflect both expected and unexpected components of inflation in the long term. There is no evidence that property returns systematically provide, on an annual basis, hedging characteristics against either of these components.
Keywords
Citation
Matysiak, G., Hoesli, M., MacGregor, B. and Nanthakumaran, N. (1996), "The long‐term inflation‐hedging characteristics of UK commercial property", Journal of Property Finance, Vol. 7 No. 1, pp. 50-61. https://doi.org/10.1108/09588689610111610
Publisher
:MCB UP Ltd
Copyright © 1996, MCB UP Limited