The Inverted Fisher Hypothesis : Inflation Forecastability and Asset Substitution"

Inflation Forecastability and Asset Substitution"

The Inverted Fisher Hypothesis : Inflation Forecastability and Asset Substitution"
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... READ MORE...

Publication date: December 2000
ISBN 9781451859850
$15.00

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