Inflation and the Stock Market:Understanding the "Fed Model"
---- Acknowledgements -----
We thank the participants of seminars at Columbia University, the Federal Reserve Board, Tilburg University, the UNiversity of Washington (Seattle), the Fourth Annual Asset Pricing Retreat at the University of Amsterdam, and the Federal reserve System's Day Ahead Conference in San Francisco for helpful comments. All errors are the sole responsibility of the authors. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.