Gibson's Paradox and Policy Regimes: A Comparison of the Experience in the US, UK and Italy
AbstractThis paper compares the behavior of long-term interest rates and prices in Italy, the United Kingdom and the United States, and seeks to shed light into what has become known as the 'Gibson paradox.' The authors compare the various theoretical explanations for the observed positive correlation of interest rates and prices in the United States and the United Kingdom. Using both regression and frequency domain techniques, they demonstrate that there is little evidence for the occurrence of the paradox in the case of Italy. The key conclusion of the paper is that the comparative evidence from these three countries supports a gold standard interpretation of the paradox. Copyright 1996 by Scottish Economic Society.
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Bibliographic InfoArticle provided by Scottish Economic Society in its journal Scottish Journal of Political Economy.
Volume (Year): 43 (1996)
Issue (Month): 4 (September)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0036-9292
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- Halicioglu, Ferda, 2004.
"The Gibson Paradox: An Empirical Investigation for Turkey,"
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- Dr Ferda Halicioglou, 2004. "The Gibson Paradox: An Empirical Investigation for Turkey," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 111-120.
- Muscatelli, V Anton, 1998.
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- Muscatelli, Vito Antonio & Spinelli, Franco, 2000. "Fisher, Barro, and the Italian Interest Rate, 1845-93," Journal of Policy Modeling, Elsevier, vol. 22(2), pages 149-169, March.
- Jagjit S. Chadha & Morris Perlman, 2014.
"Was the Gibson Paradox for Real? A Wicksellian study of the Relationship between Interest Rates and Prices,"
Studies in Economics
1403, Department of Economics, University of Kent.
- Jagjit S. Chadha & Morris Perlman, 2014. "Was the Gibson Paradox for real? a wicksellian study of the relationship between interest rates and prices," Economic History Working Papers 56896, London School of Economics and Political Science, Department of Economic History.
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