fluctuations in expected inflation, is why a strong Fisher effect occurs only for certain periods but not for others. This paper … resolves this puzzle by reexamining the relationship between inflation and interest rates with modern time-series techniques …. Recognition that the level of inflation and interest rates may contain stochastic trends suggests that the apparent ability of …

This paper critically re-examines theory and evidence on the relation- ship between interest rates and inflation. It … concludes that there is no evidence that interest rates respond to inflation in the way that classical or Keynesian theories … inflation in the short or long run. During the post-war period interest rates do appear to be affected by inflation. However …

This paper critically re-examines theory and evidence on the relation- ship between interest rates and inflation. It … concludes that there is no evidence that interest rates respond to inflation in the way that classical or Keynesian theories … inflation in the short or long run. During the post-war period interest rates do appear to be affected by inflation. However …

fluctuations in expected inflation, is why a strong Fisher effect occurs only for certain periods but not for others. This paper … resolves this puzzle by reexamining the relationship between inflation and interest rates with modern time-series techniques …. Recognition that the level of inflation and interest rates may contain stochastic trends suggests that the apparent ability of …

We consider the puzzling behavior of interest rates and inflation in the United States and the United Kingdom between … World War I; the average inflation rate was 3.8 percentage points higher in the second period than in the first. Yet nominal … consistent with rational expectations if inflation were not forecastable, and indeed univariate tests show little sign of serial …

to the anticipated changes in the rate of inflation. The analysis is carried out with monthly data for the period 1980 …-97 for three countries with recent histories of chronic high inflation: Argentina, Brazil, and Mexico. A co …-integration analysis has provided evidence of a stable long-run equilibrium relationship between nominal interest rates and the inflation …