This paper revisits the Fisher hypothesis by estimating fractional integration and cointegration models that are more general than the standard ones based on the classical I(0)/I(1) dichotomy. Two sets of results are obtained under the alternative assumptions of white noise and Bloomfield (1973)...

This paper revisits the Fisher hypothesis by estimating fractional integration and cointegration models that are more general than the standard ones based on the classical I(0)/I(1) dichotomy. Two sets of results are obtained under the alternative assumptions of white noise and Bloomfield (1973)...

1 Introduction -- 2 The Concept of Interest: Its Meaning, History and Theoretical Development -- 3 The Time Preference Theory of Interest -- 4 Interest Rate Control -- 5 Islamic Economics, Time Preference and Price Control -- 6 Conclusion.