Does the Fisher hypothesis hold for the G7? Evidence from the panel cointegration test
Küçük Resim Yok
Tarih
2015
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
The aim of this study is to investigate the validity of the Fisher hypothesis by assessing the relationship between the nominal interest rate and the inflation rate. To this end, we analyse the G7 countries over the period January 2000 to November 2012 by employing the panel unit root and panel cointegration tests. The analysis reveals that the adjustment in nominal interest rates to changes in inflation is significantly lower than unity, which implies the existence of a partial Fisher effect.
Açıklama
Anahtar Kelimeler
Fisher hypothesis, monetary policy, inflation rate, interest rate, panel unit root test, panel cointegration test
Kaynak
ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA
WoS Q Değeri
Q4
Scopus Q Değeri
Q2
Cilt
28
Sayı
1
