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    Inflation hedging characteristics of housing markets in Thailand 

    Annop Peungchuer (Assumption University, 2006)

    Property has been traditionally perceived as a good hedge against inflation. Extensive empiri- cal researches have been undertaken to prove whether properties hedge against inflation in different countries. This paper explores the relationship between inflation and returns in the housing markets in Thailand. Only the appreciation component, not income, of housing market returns is taken into account due to the limitations of data. Inflation is decomposed into expected and unexpected inflation. As expected inflation ...