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The Fisher effect and the gold standard: evidence from the USA

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  • Taufiq Choudhry

Abstract

This paper investigates the long run relationship between nominal interest rate and the inflation rate (Fisher effect) in the USA during the gold standard era (1879-1913). Using Johansen cointegration tests, results show that there exists a Fisher effect on both the nominal short- and long-term interest rates during the stated period.

Suggested Citation

  • Taufiq Choudhry, 1996. "The Fisher effect and the gold standard: evidence from the USA," Applied Economics Letters, Taylor & Francis Journals, vol. 3(8), pages 553-555.
    • Handle: RePEc:taf:apeclt:v:3:y:1996:i:8:p:553-555
    DOI: 10.1080/135048596356230
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    References listed on IDEAS

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    1. Milton Friedman & Anna J. Schwartz, 1982. "Monetary Trends in the United States and United Kingdom: Their Relation to Income, Prices, and Interest Rates, 1867–1975," NBER Books, National Bureau of Economic Research, Inc, number frie82-2.
    2. Robert J. Gordon, 1986. "The American Business Cycle: Continuity and Change," NBER Books, National Bureau of Economic Research, Inc, number gord86-1.
    3. Robert J. Gordon, 1986. "Front matter, The American Business Cycle. Continuity and Change," NBER Chapters, in: The American Business Cycle: Continuity and Change, pages -15, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Kris James Mitchener & Marc D. Weidenmier, 2010. "Searching for Irving Fisher," NBER Working Papers 15670, National Bureau of Economic Research, Inc.

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