Neo‐Fisherism and inflation control

Volume: 52, Issue: 3, Pages: 882 - 913
Published: Aug 1, 2019
Abstract
According to conventional central banking wisdom, an inflation-targeting central bank should increase (decrease) its nominal interest rate target when inflation is above (below) its target. According to neo-Fisherites, conventional central bankers have the sign wrong. Essentially all mainstream macroeconomic models tell us that increases in nominal interest rates increase inflation—in the short run and in the long run. This paper reviews...
Paper Details
Title
Neo‐Fisherism and inflation control
Published Date
Aug 1, 2019
Volume
52
Issue
3
Pages
882 - 913
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