This paper shows that the recent literature that tests for a long-run Fisher relationship using cointegration analysis … is seriously flawed. Cointegration analysis assumes that the variables in question are I(1) or I(d) with the same d …

This paper shows that the recent literature that tests for a long-run Fisher relationship using cointegration analysis … is seriously flawed. Cointegration analysis assumes that the variables in question are I(1) or I(d) with the same d …

markets. By employing parametric and nonparametric cointegration procedures, we show that the point estimates of the … ; Inflation ; Fisher Effect ; African Stock Markets ; Cointegration …