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A study was conducted to examine the Fisher Hypothesis (FH) for Turkey. FH states that nominal interest rates adjust on a one-to-one basis to expected changes in inflation rates. Findings indicate that it is possible to determine the long-run relationship between nominal interest rates and inflation. Results also show that there is a powerful Fisher effect in the case of Turkey.

A study was conducted to estimate the real interest and inflation sensitivity in Spanish stock markets. An extension of the Stone (1974) two-factor model is also proposed. It is concluded that the financial leverage ratio of companies is the key factor to measuring their interest rate exposure.

A study was conducted to re-examine the validity of trend stationary in the inflation rates of 11 OECD and Asian countries using a longer span of historical data. Findings indicate that shocks to inflation rates are temporary and soon converge. Results also show that the selection of a longer data span can help in obtaining more powerful convergent evidence.

A study was conducted to reformulate the work by Estrella and Mishkin regarding the predictive power of the yield spread for future economic activity, by focusing on the usefulness of monetary variables for generating probability predictions on real gross domestic product (GDP) growth and inflation. The study also considers the usefulness of the Divisia monetary aggregates in the context of probit models.

The combination of individual forecasts is often a useful tool to improve forecast accuracy. The most commonly used technique for forecast combination is the mean, and it has frequently proved [...]

Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via [...]

The demand for money in Bulgaria is estimated over a ten-year period (1991-2000) of high inflation and inflation uncertainty. The paper distinguishes between three well-defined sub-periods: high, variable, but not [...]

This paper considers various models emerging from the Fisher effect and/or the term structure of interest rates for inflation forecasting. This paper, it is believed, makes a contribution to the [...]

The aim of this paper is to analyse whether or not there is a long-term stable equilibrium relationship between the underlying rates of inflation of the member states that have [...]

Using annual US data for gross domestic product originating by sector between 1947 and 1997 it is shown that a negative long-run relationship between inflation and the markup is present [...]

This paper presents the results of an empirical study of the relationship between macroeconomic performance and policy makers' preferences for real output growth and inflation based on quarterly data from [...]

In this paper it is examined whether the existence of rational bubbles can explain the dynamics of the price level during the Argentine, Brazilian and Israeli high inflations in the [...]

I. INTRODUCTION In a recent paper in this journal, Chowdhury (1991) reconsiders the empirical relationship between inflation rates and inflation variability. His motivation arises from the fact that numerous studies [...]

Measures of inflation and the price level are added to the standard model of liquid asset demand and estimated with cross-section data on Brazilian manufacturing firms over a tour-year period [...]

Evidence of smooth transition autoregressive (STAR) representations is found in two, out of three, time series of different measures of annual inflation in Colombia during this decade for monthly data. [...]

This paper investigates the dynamic process of Korean inflation under the US military administration using a structural vector autoregression (SVAR) incorporating cointegration relations among the variables. The results show that [...]

Measures of expected inflation from consumer surveys are derived using a modification of the Carlson-Parkin probability approach, which does not assume unbiasedness of expectations, makes use of survey data on [...]

Emery (1992) raises two major issues. First, inflation variability and inflation uncertainty are not synonymous. Inflation variability may not have the same damaging effects on economic activity associated with inflation [...]