Is gold a hedge or a safe haven?Evidence from inflation and stock market

@inproceedings{Dee2013IsGA,
  title={Is gold a hedge or a safe haven?Evidence from inflation and stock market},
  author={Junpeng Dee and Liuling Li and Zhonghua Zheng},
  year={2013}
}
Gold with special nature has always been regarded as a safe asset. This paper examine whether gold serves as a hedge for stock or/and inflation in China mainland market. Employing improved classic methods, and some new methods, such as quantile regression and binary probit model, our empirical results show, for short-term investors, that gold always cannot hedge stock and inflation risk. But it is actually a good hedge for stock or inflation if you would hold gold for a long time. However, it… CONTINUE READING

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