We find Fisher effects, both long- and short-run, in our full sample period and in the lengthy first sub-period, using Mishkin's monthly data for Treasury bill yields and the corresponding inflation rate. Recently developed cointegration techniques (Ahn and Reinsel, 1990; Reinsel and Ahn, 1992) are...

This is a timely review of the gold standard covering the 110 years of its operation until 1931, when Britain abandoned it in the midst of the Depression. Current dissatisfaction with floating rates of exchange has spurred interest in a return to a commodity standard. The studies in this volume...