Around the World with Irving Fisher

Arbeitspapier

This paper aims to show why Irving Fisher's own data on interest rates and inflation in New York, London, Paris, Berlin, Calcutta, and Tokyo from 1825 to 1927 suggested to him that nominal interest rates adjusted neither quickly nor fully to changes in inflation, not even in the long run. In Fisher's data, interest rates have more persistence than inflation and change less than inflation over time. The Fisher effect is a misnomer unless it is taken to refer to what Fisher actually found and what his data show: a persistent negative effect of increased inflation on real interest rates.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 5257

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Price Level; Inflation; Deflation ; Interest Rates: Determination, Term Structure, and Effects
• Thema: Fisher effect ; inflation ; interest rates

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Gylfason, Thorvaldur ; Tómasson, Helgi ; Zoega, Gylfi
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2015

Weitere Informationen

• Handle: http://hdl.handle.net/10419/108797
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ