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The Contribution of Inflation to the Level and the Variability of Nominal Interest Rates : Some Multi-Country Evidence

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  • Markus J. Granziol
  • Anna Holzgang

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  • Markus J. Granziol & Anna Holzgang, 1988. "The Contribution of Inflation to the Level and the Variability of Nominal Interest Rates : Some Multi-Country Evidence," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 124(IV), pages 559-573, December.
    • Handle: RePEc:ses:arsjes:1988-iv-4
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    References listed on IDEAS

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    1. Thomas J. Sargent, 1973. "Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(2), pages 429-480.
    2. Summers, Lawrence H., 1986. "Estimating the long-run relationship between interest rates and inflation: A response to McCallum," Journal of Monetary Economics, Elsevier, vol. 18(1), pages 77-86, July.
    3. Wilcox, James A, 1983. "Why Real Interest Rates Were So Low in the 1970's," American Economic Review, American Economic Association, vol. 73(1), pages 44-53, March.
    4. Fama, Eugene F, 1975. "Short-Term Interest Rates as Predictors of Inflation," American Economic Review, American Economic Association, vol. 65(3), pages 269-282, June.
    5. McCallum, Bennett T., 1986. "Estimating the long-run relationship between interest rates and inflation: A reply," Journal of Monetary Economics, Elsevier, vol. 18(1), pages 87-90, July.
    6. Fama, Eugene F. & Schwert, G. William, 1977. "Asset returns and inflation," Journal of Financial Economics, Elsevier, vol. 5(2), pages 115-146, November.
    7. A. Penati, "undated". "The Sources of the Movements in Interest Rates: An Empirical Investigation," Rodney L. White Center for Financial Research Working Papers 2-86, Wharton School Rodney L. White Center for Financial Research.
    8. Cumby, Robert E. & Mishkin, Frederic S., 1986. "The international linkage of real interest rates: The European-US connection," Journal of International Money and Finance, Elsevier, vol. 5(1), pages 5-23, March.
    9. Mishkin, Frederic S, 1984. "Are Real Interest Rates Equal across Countries? An Empirical Investigation of International Parity Conditions," Journal of Finance, American Finance Association, vol. 39(5), pages 1345-1357, December.
    10. Barsky, Robert B., 1987. "The Fisher hypothesis and the forecastability and persistence of inflation," Journal of Monetary Economics, Elsevier, vol. 19(1), pages 3-24, January.
    11. Barthold, Thomas A & Dougan, William R, 1986. "The Fisher Hypothesis under Different Monetary Regimes," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 674-679, November.
    12. Granziol, Markus J., 1985. "Direct price controls as a source of instability in the interest rate/inflation rate relationship," Journal of Banking & Finance, Elsevier, vol. 9(2), pages 275-288, June.
    13. Martin Feldstein, 1983. "Inflation, Income Taxes, and the Rate of Interest: A Theoretical Analysis," NBER Chapters, in: Inflation, Tax Rules, and Capital Formation, pages 28-43, National Bureau of Economic Research, Inc.
    14. Garbade, Kenneth & Wachtel, Paul, 1978. "Time variation in the relationship between inflation and interest rates," Journal of Monetary Economics, Elsevier, vol. 4(4), pages 755-765, November.
    15. Fama, Eugene F. & Gibbons, Michael R., 1982. "Inflation, real returns and capital investment," Journal of Monetary Economics, Elsevier, vol. 9(3), pages 297-323.
    16. Dwyer, Gerald Jr., 1981. "Are expectations of inflation rational? or Is variation of the expected real interest rate unpredictable?," Journal of Monetary Economics, Elsevier, vol. 8(1), pages 59-84.
    17. Darby, Michael R, 1975. "The Financial and Tax Effects of Monetary Policy on Interest Rates," Economic Inquiry, Western Economic Association International, vol. 13(2), pages 266-276, June.
    18. Wilcox, James A., 1983. "The effects of inflation uncertainty and supply shocks on real interest rates," Economics Letters, Elsevier, vol. 12(2), pages 163-167.
    19. Thomas J. Sargent, 1972. "Anticipated Inflation and the Nominal Rate of Interest," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(2), pages 212-225.
    20. Merrick, John Jr. & Saunders, Anthony, 1986. "International expected real interest rates: New tests of the parity hypothesis and U.S. fiscal policy effects," Journal of Monetary Economics, Elsevier, vol. 18(3), pages 313-322, November.
    21. Gaab, W. & Granziol, M. J. & Horner, M., 1986. "On some international parity conditions : An empirical investigation," European Economic Review, Elsevier, vol. 30(3), pages 683-713, June.
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