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The Fisher Hypothesis under Different Monetary Regimes
The Review of Economics and Statistics, 1986We examine the relation between inflation and nominal interest rates under the various monetary regimes in effect in the United States since the turn of the century. Our data include a newly constructed time series of short-term municipal bond yields observed annually since 1902.
Barthold, Thomas A, Dougan, William R
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Quantile cointegration analysis of the Fisher hypothesis
Journal of Macroeconomics, 2013Abstract This paper intends to provide possible explanations for the empirical failure of the Fisher hypothesis in terms of economic shocks by employing the quantile cointegration methodology recently proposed by Xiao (2009) . Our empirical results for six OECD countries suggest that though the nominal interest rate and inflation move together in ...
Ching-Chuan Tsong, Cheng-Feng Lee
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A Comment on Fisher and Temin on the Schumpeterian Hypothesis
Journal of Political Economy, 1979In a recent paper, Franklin Fisher and Peter Temin (hereafter F-T) attempt to disprove the logic of the Schumpeterian proposition that industrial concentration would increase industry's R & D output given the existence of increasing returns to scale to R & D activities with respect to research input and firm size.
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The Fisher hypothesis: examining the Canadian experience
Applied Economics, 1995In this study the validity of the Fisher hypothesis is investigated for Canada under both fixed and floating exchange rate regimes. An empirically distinction is drawn between the weak and strong form of the Fisher hypothesis. The Johansen-Juselius (JJ) multivariate cointegration methodology is applied to test the weak form while the Phillips–Hansen ...
Swarna D. Dutt, Dipak Ghosh
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An Empirical Examination of the Fisher Hypothesis in [PDF]
Maintaining a low rate of inflation is very important to achieve sustainable economic growth but is a challenging task for policy makers. Interest rates are one of the main channels through which monetary policy changes can be used to achieve this goal of low inflation.
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Inflation, hedging, and the fisher hypothesis
Journal of Macroeconomics, 1987This paper presents an interest rate equation that is based on the “inverted Fisher hypothesis” but that allows for a time-variant interest premium corresponding to the implicit return on monetary services. This premium is decomposed into time-variant capital risk and hedging premiums. Empirical evidence from Canada, the U.K. and the U.S.
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Local Control, Survival, and the Fisher Hypothesis
Journal of Clinical Oncology, 2010TO THE EDITOR: Rabinovitch and Kavanagh seek a middle ground between the Fisher and Halsted concepts of breast cancer. They report that a meta-analysis showed a highly significant reduction in annual breast cancer mortality when patients who had undergone lumpectomy also received radiation therapy.
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Real Interest Parity and the Fisher Hypothesis
1997The real interest parity (RIP) hypothesis postulates that if the world markets for goods, capital and foreign exchange are integrated, real interest rates on perfectly comparable financial assets tend to be equalised across countries over time.
Imad A. Moosa, Razzaque H. Bhatti
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Tests of the Fisher Hypothesis with International Data: Theory and Evidence
The Journal of Finance, 1983THE FISHER HYPOTHESIS [7, 8] states that nominal interest rates adjust fully to expected inflation. For years tests of this hypothesis followed Fisher [8] in regressing nominal rates on a distributed lag of past inflation, which was used as a proxy for the expected rate of inflation.
Kane, Alex +2 more
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A Note on Fisher Hypothesis and Price Level Uncertainty
The Journal of Financial and Quantitative Analysis, 1977The theory on the relationship between real and nominal interest rates is based on the well-known Fisher equation: where: i = nominal interest rate; r = real interest rate; λ = percentage change in price level: P /P 0 - 1 where P and P 0 denote end-of-period and current levels of some aggregate price index, respectively.
Y. Amihud, A. Barnea
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