Bilgin, MH, Gogolin, F, Lau, MCK et al. (1 more author) (2018) Time-variation in the relationship between white precious metals and inflation: A cross-country analysis. Journal of International Financial Markets, Institutions and Money, 56. pp. 55-70. ISSN 1042-4431
Abstract
In recent years, as a result of an increasing financialisation of financial markets, white precious metals have slowly transformed from mere production inputs to investment assets. In order to analyse the characteristics of white precious metals and the consequences of the transition, this paper examines the long-run inflation hedging effectiveness of silver, platinum, and palladium using both linear and non-linear cointegration relationship procedures. This study is the first to formally investigate the inflation hedging effectiveness of white precious metals across different countries. Overall, the results point towards the superiority of palladium as the most reliable inflation hedge. Furthermore, country-specific graphical evidence uncovers time-variation in the inflation hedging potential of white precious metals.
Metadata
Item Type: | Article |
---|---|
Authors/Creators: |
|
Copyright, Publisher and Additional Information: | Crown Copyright © 2018 Published by Elsevier B.V. All rights reserved. This is an author produced version of a paper published in Journal of International Financial Markets, Institutions and Money. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | White precious metals; Silver; Platinum; Palladium; Inflation; Hedge |
Dates: |
|
Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Accounting & Finance Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 25 Oct 2018 11:49 |
Last Modified: | 28 Mar 2019 01:43 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.intfin.2018.03.001 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:137741 |