contribute to amplify the equity premium, and to account for its apparent, positive link with inflation …

Hansen Co-integration test confirmed the existence of a long-run relationship between nominal interest rates and inflation …

movements are caused by inflation rate fluctuations, remaining constant the real interest rate. Finally, we analyse the Fisher … Effect in the Spanish case with a preliminary analysis in order to validate future studies. -- inflation expectations …

time-path of the unobservable variables that, according to the Fisherian theory of interest, determine fluctuations of the … nominal interest rates, i.e. the expected inflation and the ex-ante real interest rate components. Secondly, we try to solve …

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 …