Takemori, Shumpei; Savtchenko, Lioudmila - In: Japanese Economy 35 (2008) 4, pp. 3-21
The statistical relationship between price levels and interest rates, known as the "Gibson paradox," is, according to Keynes, "the most established fact in monetary economics." Since Barsky and Summers (1988), the Gibson Paradox has been interpreted as a phenomenon associated primarily with the...