Is the Fisher Effect for Real? A Reexamination of the Relationship Between Inflation and Interest Rates
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The basic puzzle about the so-called Fisher effect, in which movements in short-term interest rates primarily reflect 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
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美国国家经济研究局创建时间：
1991-02-01
