Arbeitspapier
Around the World with Irving Fisher
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.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 5257
- Classification
-
Wirtschaft
Price Level; Inflation; Deflation
Interest Rates: Determination, Term Structure, and Effects
- Subject
-
Fisher effect
inflation
interest rates
- Event
-
Geistige Schöpfung
- (who)
-
Gylfason, Thorvaldur
Tómasson, Helgi
Zoega, Gylfi
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2015
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Gylfason, Thorvaldur
- Tómasson, Helgi
- Zoega, Gylfi
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2015
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