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- Fisher_hypothesis abstract "In economics, the Fisher hypothesis (sometimes called the Fisher effect) is the proposition by Irving Fisher that the real interest rate is independent of monetary measures, specifically the nominal interest rate and the expected inflation rate. The term "nominal interest rate" refers to the actual interest rate giving the amount by which a number of dollars or other unit of currency owed by a borrower to a lender grows over time; the term "real interest rate" refers to the amount by which the purchasing power of those dollars grows over time—that is, the real interest rate is the nominal interest rate adjusted for the effect of inflation on the purchasing power of the loan proceeds.The relation between the nominal and real rates is given by the Fisher equation, which isThis states that the real interest rate equals the nominal interest rate minus the expected inflation rate . Here all the rates are continuously compounded. For rates based on simple interest, the Fisher equation takes the formwhere is the simple nominal interest rate and is the simple real interest rate; this equation is well approximated by using the simple rates in the previous equation provided all three percentage rates are relatively small. If the real rate is assumed, as per the Fisher hypothesis, to be constant, the nominal rate must change point-for-point when rises or falls. Thus, the Fisher effect states that there will be a one-for-one adjustment of the nominal interest rate to the expected inflation rate. The implication of the conjectured constant real rate is that monetary events such as monetary policy actions will have no effect on the real economy—for example, no effect on real spending by consumers on consumer durables and by businesses on machinery and equipment.Some contrary models assert that, for example, a rise in expected inflation would increase current real spending contingent on any nominal rate and hence increase income, limiting the rise in the nominal interest rate that would be necessary to re-equilibrate money demand with money supply at any time. In this scenario, a rise in expected inflation results in only a smaller rise in the nominal interest rate and thus a decline in the real interest rate . It has also been contended that the Fisher hypothesis may break down in times of both quantitative easing and financial sector recapitalisation.".
- Fisher_hypothesis wikiPageID "1465944".
- Fisher_hypothesis wikiPageRevisionID "597490599".
- Fisher_hypothesis hasPhotoCollection Fisher_hypothesis.
- Fisher_hypothesis subject Category:Economic_theories.
- Fisher_hypothesis subject Category:Interest.
- Fisher_hypothesis type Abstraction100002137.
- Fisher_hypothesis type Cognition100023271.
- Fisher_hypothesis type EconomicTheories.
- Fisher_hypothesis type EconomicTheory105994935.
- Fisher_hypothesis type Explanation105793000.
- Fisher_hypothesis type HigherCognitiveProcess105770664.
- Fisher_hypothesis type Process105701363.
- Fisher_hypothesis type PsychologicalFeature100023100.
- Fisher_hypothesis type Theory105989479.
- Fisher_hypothesis type Thinking105770926.
- Fisher_hypothesis comment "In economics, the Fisher hypothesis (sometimes called the Fisher effect) is the proposition by Irving Fisher that the real interest rate is independent of monetary measures, specifically the nominal interest rate and the expected inflation rate.".
- Fisher_hypothesis label "Fisher hypothesis".
- Fisher_hypothesis label "Hipoteza Fishera".
- Fisher_hypothesis sameAs Hipoteza_Fishera.
- Fisher_hypothesis sameAs m.053r5c.
- Fisher_hypothesis sameAs Q10495747.
- Fisher_hypothesis sameAs Q10495747.
- Fisher_hypothesis sameAs Fisher_hypothesis.
- Fisher_hypothesis wasDerivedFrom Fisher_hypothesis?oldid=597490599.
- Fisher_hypothesis isPrimaryTopicOf Fisher_hypothesis.