This paper aims to show why Irving Fisher's own data on interest rates and inflation in New York, London, Paris, Berlin … changes in inflation, not even in the long run. In Fisher's data, interest rates have more persistence than inflation and … change less than inflation over time. The Fisher effect is a misnomer unless it is taken to refer to what Fisher actually …

The neo-Fisherian view does not consider a negative interest rate gap a prerequisite for boosting inflation. Instead, a … negative interest rate gap is said to lower inflation. We discuss this counterintuitive response - known as the Fisher paradox …