If you are experiencing problems downloading PDF or HTML fulltext, our helpdesk recommend clearing your browser cache and trying again. If you need help in clearing your cache, please click here . Still need help? Email help@ingentaconnect.com

Long- and short-run Fisher effects: new tests and new results

$54.78 plus tax (Refund Policy)

Buy Article:


We find Fisher effects, both long- and short-run, in our full sample period and in the lengthy first sub-period, using Mishkin's monthly data for Treasury bill yields and the corresponding inflation rate. Recently developed cointegration techniques (Ahn and Reinsel, 1990; Reinsel and Ahn, 1992) are used to detect a long-run Fisher effect. The short-run effect is analysed within a cointegration framework, using a Granger causality test that we developed. In the two more recent, but comparatively short sub-periods since October 1979, our results indicate the Fisher effect is not present in either long- or short-run form. These methodologies and results differ from the conclusions of Mishkin's (1992) recent study.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/000368498326209

Publication date: January 1, 1998

More about this publication?
Related content

Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more