...R.J. Barkham; C.W.R. Ward; O.T. Henry Presents results of an investigation of the inflation‐hedging characteristics of UK property. Evaluates the various methods of decomposing inflation into its “expected” and “unexpected” components, using new time series data on inflation expectations produced...

...David Miles Reviews the evidence on the inflation‐hedging characteristics of UK commercial property as an asset class. That evidence suggests that commercial property is a very imperfect hedge against unanticipated inflation. Furthermore, the returns have been substantially lower than on equities...

... analysis UK This paper reports the results from an investigation of the long‐term inflation‐hedging characteristics of UK commercial property. The extent of inflation hedging is important from a number of perspectives. Where real purchasing power is to be maintained or where liabilities are linked...

...), and Hoesli (1994) have used Fama type static ordinary least squares (OLS) methods to test the hypothesis that commercial property is an inflation hedge in the USA, the UK and Switzerland respectively. The hypothesis that the coefficients on expected inflation and unexpected inflation are equal to one cannot...

...‐linked gilts appear to be a good hedge against inflation. Applies traditional regression‐based inflation hedging tests to UK index‐linked gilts. The tests suggest that index‐linked gilts are not a hedge against inflation. There is an anomaly. The anomaly is resolved through explicitly defining a hedge...