Kamatlábak és defláció – Irving Fisher újratöltve?

BlogMadarász Aladár

Blogs review: Understanding the Neo-Fisherite rebellion

by Jérémie Cohen-Setton

on 20th July 2015- http://www.bruegel.org

What’s at stake: Neo-Fisherism is on the blogs again. The idea that low interest rates are deflationary – that we’ve had the sign on monetary policy wrong! – started as a fringe theory on the corners of the blogosphere 3 years ago. Michael Woodford has now confirmed that modern theory, indeed, implies the Neo-Fisherian view when people’s expectations are infinitely rational. For Woodford, this is however a paradox of perfect foresight analysis, rather than something actually relevant for monetary policy.

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