The Fisher hypothesis revisited: new evidence
The Fisher hypothesis revisited: new evidence
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重新审视费舍尔假说：新证据
DOI：
10.1080/000368497326444
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发表时间：
1997
影响因子：
2.2
通讯作者：
Y. Hsing
中科院分区：
文献类型：
--
作者：
Y. Hsing
名义利率采用包含费舍尔假设的IS-LM模型进行检验。对截至1993年的不同抽样期间，考虑了八种不同的利率。当使用利文斯顿调查数据时，预期通货膨胀率、实际货币数量和政府支出的系数在大多数情况下都很重要。当应用自适应预期模型时，实际货币数量和政府支出的系数在大多数情况下是微不足道的。费舍尔假设只适用于联邦基金利率或AAA债券利率。线性形式回归可以在1%的水平上被拒绝，而支持Box-Cox一般函数形式。
The nominal interest rate is examined with the IS-LM model incorporating the Fisher hypothesis. Eight different interest rates are considered for different sample periods ending in 1993. When the Livingston survey data are used, the coefficients for the expected inflation rate, real quantity of money and government spending are significant in most cases. When the adaptive expectations model is applied, the coefficients for real quantity of money and government spending are insignificant in most cases. The Fisher hypothesis only holds for the federal funds rate or the AAA bond rate. The linear-form regression can be rejected at the 1% level in favour of the Box-Cox general functional form.