Efeito Fisher no Brasil, de 1980 a 2008
Keywords:
Interest rate. Fisher effect. Cointegration.Abstract
Fisher effect inform that the nominal interest rate is the sum of the real interest rate and expected inflation, the Fisher hypothesis inform that relationship between nominal interest rate and expected inflation is unit. This relationship has great impact in the macroeconomic model, The Fisher hypothesis will test the long-run neutrality proposition, that is; a permanent change in nominal variables have no effect on real economic variables in the long run. The empirical evidence showed that there was not short-run Fisher effect, and there was cointegration between the variables, the strong version of the long-run Fisher hypothesis could be rejected and the weak form of the long run Fisher hypothesis could not be rejected.Downloads
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