Can Switching Between Inflationary Regimes Explain Fluctuations in Real Interest Rates?

It has recently been suggested that allowing for switches between different inflationary regimes produces a much better fit for the Fisher relationship between interest rates and inflation, at least for U.S. data. The paper assesses the merits of the regime-switching theory as an explanation for the...

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Bibliographic Details
Main Author: Bleaney, M.
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1997
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 25 pages 
651 4 |a United States 
653 |a Interest rates 
653 |a Inflation 
653 |a Finance 
653 |a Financial services 
653 |a Real interest rates 
653 |a Deflation 
653 |a Short term interest rates 
653 |a Yield curve 
653 |a Price Level 
653 |a Banks and Banking 
653 |a Prices 
653 |a Macroeconomics 
653 |a Interest Rates: Determination, Term Structure, and Effects 
653 |a Long term interest rates 
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520 |a It has recently been suggested that allowing for switches between different inflationary regimes produces a much better fit for the Fisher relationship between interest rates and inflation, at least for U.S. data. The paper assesses the merits of the regime-switching theory as an explanation for the apparent fluctuations in real interest rates in Australia, Canada, Germany, the United Kingdom, and the United States