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Forecasting Pre-World War I Inflation: The Fisher Effect Revisited

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NBER1988-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2784
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We consider the puzzling behavior of interest rates and inflation in the United States and the United Kingdom between 1879 and 1913. A deflationary regime prior to 1896 was followed by an inflationary one from 1896 until the beginning of World War I; the average inflation rate was 3.8 percentage
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1988-12-01
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