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In this article, the authors focused on creating a model for analyzing assets and decisions that can be taken in studying and forecasting the capital market under the impact of inflation. The prices of the capital market can be established on the basis of the normal evolution of deflated prices or based on a study regarding the previous stage and evolution of the capital market. In the capital market, prices can be expressed at market developments or, at other times, at prices without arbitrage. The intertemporal accumulation model of assets is clearly under the influence of capital risk. Therefore, the dynamics of the price evolution rate must play an important role, but this can only be done in close correlation with the dynamics of the inflation rate. Many hypotheses can be considered that happen in the short, medium or long term, in the evolution of prices on the capital market. We say the evolution of prices because, according to this, they coordinate, correlate the investors' intentions to place the capital market assets, to station or to restrict them. From this point of view, any analysis of the forecast, the forecast of the capital market must be done in close accordance with the concrete analysis of the dynamics of inflation. Inflation, in its dynamics, also helps to establish prices on the capital market and, consequently, the returns obtained on the capital market. The market prices are those that determine the returns that can be obtained by investors who place their assets on the capital market. The evolution of prices on the capital market and the evolution of the perspective of capital prices must be closely observed in line with the dynamics of the inflation rate. By assigning assets under risk aversion, it is clear that it is the parameter that highlights the effect and direction in which the investments in the capital market develop. Consequently, we can specify that the dynamics of inflation over a period of time in which the assets are placed is what determines the size of the respective returns. Without a correct estimate of inflation, a certain forecast cannot be made regarding the evolution of the price and, consequently, of the evolution of the returns that happen on the capital market. The dynamics of inflation, determined by statistical-econometric methods, ensure the possibility of the capital market reacting positively or not. Inflation needs to be updated through forecast studies and then used to deflate capital market indicators so that deflated indicators can suggest the forecast of the capital market evolution. In other ideas, we can specify that, the estimation of prices by arbitrary way, as well as the correlative study between the evolution of the activity in the capital markets and the yields that will be obtained are in close agreement. The study also aims at forecasting the capital market in the short, medium and long term, depending on the evolution of prices, the dynamics of inflation during the forecast period.
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To cite this article: Anghel, M.-G., Iacob, S. V., Ha?egan, D.-A. (2020). The Calculation of the Price without Arbitration and the Use of This in the Study of the Capital Market, International Journal of Academic Research in Accounting, Finance and Management Sciences 10 (2):133-139.
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