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The Fisher Effect

 

Marketed By :  LAP LAMBERT Academic Publishing   Sold By :  Kamal Books International  
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  • Product Description
 

The Fisher effect, one of the oldest paradigms of Financial Economics, has been scrutinized for decades. Behind the large body of academic literature lies the intuitive idea that nominal interest rates should adjust to changed expectations of inflation, leaving the real rate unaffected. Despite the amount of attention the theory has received, the empirical evidence is not nearly conclusive. This book lends considerable weight in support of the Fisher Effect, by modeling the equation under realistic conditions, and relaxing some of the assumptions commonly present in the empirical literature. The assumption of Rational Expectations is circumvented through use of new survey data on inflation from the Consensus Forecast. The model also allows for active monetary policy, using four different monetary regimes: the US, Euro Area, Switzerland, and Sweden. The evidence suggests that interest rates fully adjust to changes in the expected level of inflation, and debt markets act rationally when forming expectations of inflation. This book may be of particular use to monetary or financial economists, and in financial and academic institutions.

Product Specifications
SKU :COC69367
AuthorDavid Brhel
LanguageEnglish
BindingPaperback
Number of Pages92
Publishing Year2011-05-09T00:00:00.000
ISBN978-3843376655
Edition1 st
Book TypeEconomics
Country of ManufactureIndia
Product BrandLAP LAMBERT Academic Publishing
Product Packaging InfoBox
In The Box1 Piece
Product First Available On ClickOnCare.com2015-07-08 00:00:00
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