Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund.
IMF Institute.
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| ISBN: | 1451905211
9781451905212
1462303439
9781462303434
1282061224
9781282061224
9786613799159
6613799157
9781451859850
1451859856
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| Notes: | Includes bibliographical references (pages 31-33).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation This paper examines the implications of inflation persistence for the inverted Fisher hypothesis that nominal interest rates do not adjust to inflation because of a high degree of substitutability between money and bonds. It is emphasized that the substitutability between nominal assets and capital renders the hypothesis inconsistent with the data when inflation persistence is high. Using a switching regression model, the analysis allows the reflection of inflation in interest rates to vary according to the degree of inflation persistence or forecastability. the hypothesis is supported by U.S. data only when inflation forecastability is below a certain threshold.
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| Other form: | Print version: Choi, Woon Gyu, 1960- Inverted Fisher hypothesis. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2000
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| Standard no.: | 10.5089/9781451905212.001
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