TY  - JOUR
TI  - The Fisher Hypothesis within the Framework of Long-Run Covariability: The Case of the United Kingdom
AB  - This paper aims to present the long-run covariability between inflation and the interest rate of the United Kingdom by using a new method developed by Müller and Watson (2018) that eliminates the low-frequency problems. In this study, the validity of the Fisher hypothesis is investigated under structural break periods for the UK's economy. The analysis is carried out with monthly inflation and interest rate for six periods: Full sample (1920:1-2019:12), interwar years (1920:1-1939:8), fixed exchange rate (1952:1-1973:2), Post War II (1952:1-1992:9) and two different inflation targeting periods (1992:10-2008:8 and 1992:10-2019:12). The empirical finding suggests that the Fisher hypothesis holds for the United Kingdom in the long-run.
AU  - TOKATLIOGLU, YAGMUR
DO  - 10.17233/sosyoekonomi.2023.03.10
PY  - 2023
JO  - Sosyoekonomi
VL  - 31
IS  - 57
SN  - 1305-5577
SP  - 195
EP  - 205
DB  - TRDizin
UR  - http://search/yayin/detay/1193086
ER  -