Does the Fisher Effect Apply in Greece? A Cointegration Analysis
In this paper we tried to investigate if the Fisher effect (hypothesis) holds for the Greek economy using recent econometric techniques. The main result of this paper is that the nominal interest rate does not move together with the inflation rate over the long-run which means that the Fisher hypothesis can not be taken as a long-run equilibrium phenomenon in the case of Greece. The implication of this invalidity is that external factors play a direct role in the determination of the domestic nominal interest rate, something which is reasonable for an open economy, as is the Greek economy where there is extensive capital mobility.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 52 (1999)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: |
Phone: +39 010 27041
Fax: +39 010 2704222
Web page: http://www.ge.camcom.it/IT/Tool/Modulistica
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ris:ecoint:0278. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angela Procopio)
If references are entirely missing, you can add them using this form.