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DC Field | Value | Language |
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dc.contributor.advisor | Παναγιωτίδης, Θεόδωρος | el |
dc.contributor.author | Amanatidis, Stefanos Marinos | en |
dc.date.accessioned | 2023-09-20T06:52:57Z | - |
dc.date.available | 2023-09-20T06:52:57Z | - |
dc.date.issued | 2023 | - |
dc.identifier.uri | http://dspace.lib.uom.gr/handle/2159/29355 | - |
dc.description | Πτυχιακή εργασία--Πανεπιστήμιο Μακεδονίας, Θεσσαλονίκη, 2023. | el |
dc.description | Η βιβλιοθήκη διαθέτει αντίτυπο της πτυχιακής μόνο σε ηλεκτρονική μορφή. | el |
dc.description.abstract | Gold and Silver were in the forefront of monetary policy for a significant part of human history and are now regarded as financial assets with inflation-hedging properties. This thesis seeks to evaluate whether this belief is true in the long-run, by examining their prices during 1792–2022 in the US and the UK, against expected and headline inflation. First, an analysis of inflation-adjusted prices finds that gold has retained and slightly increased its purchasing power. The same is not true for silver which has relied on sporadic peaks and high-momentum markets. Also, other options might be better since both metals are volatile. Second, a VECM is employed, finding that gold is cointegrated with inflation and has been a superior hedge against it, better so for the US and slightly better against expected inflation. Silver is also a hedge, though less consistent and only against expected inflation. | en |
dc.format.extent | 61 | el |
dc.language.iso | en | en |
dc.publisher | Πανεπιστήμιο Μακεδονίας | el |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 International | en |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές | el |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | en |
dc.subject | Gold-prices | en |
dc.subject | Silver-prices | en |
dc.subject | Inflation hedge | en |
dc.subject | Cointegration | en |
dc.subject | Vector Error Correction Model (VECM) | en |
dc.title | Evaluating the timeless appeal: gold and silver as inflation hedges | en |
dc.type | Bachelor's Degree Paper | en |
dc.type | Text | en |
dc.contributor.department | Τμήμα Οικονομικών Επιστημών (ΠΕ) | el |
Appears in Collections: | Τμήμα Οικονομικών Επιστημών (Π) |
Files in This Item:
File | Description | Size | Format | |
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AmanatidisStefanosMarinosPe2023.pdf | 637.51 kB | Adobe PDF | View/Open |
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