Retrospectives Irving Fisher's Appreciation and Interest (1896) and the Fisher Relation
Bibliographic Data
| ID | 4029158 |
|---|---|
| Authors | Robert W Dimand (0000-0001-8304-5148, Professor of Economics at Brock University, St. Catharines, Ontario, Canada.), Rebeca Gomez Betancourt (0000-0002-5238-6705, Associate Professor of Economics, Université Lumière Lyon 2, Lyon, France.) |
| Year | 2012 |
| Volume | 26 |
| Issue | 4 |
| Pages | 185-196 |
| Publication date | 2012-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.26.4.185 |
| OpenAlex | W2017813639 |
| Language | EN |
| Citations received | 7 |
| References cited | 18 |
Irving Fisher's monograph Appreciation and Interest (1896) proposed his famous equation showing expected inflation as the difference between nominal interest and real interest rates. In addition, he drew attention to insightful remarks and numerical examples scattered through the earlier literature, and he derived results ranging from the uncovered interest arbitrage parity condition between currencies to the expectations theory of the term structure of interest rates. As J. Bradford DeLong wrote in this journal (Winter 2000), "The story of 20th century macroeconomics begins with Irving Fisher" and specifically with Appreciation and Interest because "the transformation of the quantity theory of money into a tool for making quantitative analyses and predictions of the price level, inflation, and interest rates was the creation of Irving Fisher." I discuss the message of Appreciation and Interest, and assess how original he was
Econometrics · Economics · Fisher equation · Fisher hypothesis · Interest rate · Interest rate parity · International Fisher effect · Keynesian economics · Macroeconomics · Mathematical economics · Nominal interest rate · Positive economics · Real interest rate · Theoretical physics · Economic Theory and Institutions · Economic Theory and Policy · Monetary Policy and Economic Impact
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| Unique citing works | 7 |
|---|---|
| Citations per year | 0,78 |
| Citation span | 2017 - 2024 (8) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 6 |