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dc.contributor.authorBerument, Hakanen_US
dc.contributor.authorCeylan, N. B.en_US
dc.contributor.authorOlgun, H.en_US
dc.date.accessioned2016-02-08T10:15:50Z
dc.date.available2016-02-08T10:15:50Z
dc.date.issued2007en_US
dc.identifier.issn0003-6846
dc.identifier.urihttp://hdl.handle.net/11693/23571
dc.description.abstractThis paper tests the validity of the Fisher hypothesis, which establishes a positive relation between interest rates and expected inflation, for the G7 countries and 45 developing economies. For this purpose, we estimate a version of the GARCH specification of the hypothesis for all countries included in the sample. We also test the augmented Fisher relation by including the inflation uncertainty in the equation. The simple Fisher relation holds in all G7 countries but in only 23 developing countries. There is a positive and statistically significant relationship between interest rates and inflation uncertainty for six of the G7 and 18 of the developing countries and this relationship is negative for seven developing countries.en_US
dc.language.isoEnglishen_US
dc.source.titleApplied Economicsen_US
dc.relation.isversionofhttp://dx.doi.org/10.1080/00036840500427908en_US
dc.subjectDeveloping worlden_US
dc.subjectG-7 countryen_US
dc.subjectInflationen_US
dc.subjectInterest rateen_US
dc.subjectUncertainty analysisen_US
dc.titleInflation uncertainty and interest rates: Is the Fisher relation universal?en_US
dc.typeArticleen_US
dc.departmentDepartment of Economicsen_US
dc.citation.spage53en_US
dc.citation.epage68en_US
dc.citation.volumeNumber39en_US
dc.citation.issueNumber1en_US
dc.identifier.doi10.1080/00036840500427908en_US
dc.publisherRoutledgeen_US
dc.contributor.bilkentauthorBerument, Hakan
dc.identifier.eissn1466-4283


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