The difference between profit and interest was never clarified by the early classicists, but J. S. Mill provided a partial answer: It was based on his two concepts of quot;abstinencequot;. Interest was the reward for anonymous or quot;contractquot; personal saving without ownership-savings...

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)...