| | |

Archive search


Fulltext search
Advanced filter

EXPLORING THE GIBSON LAW IN CEE COUNTRIES USING A TIME SERIES APPROACH

Marinko Škare, Daniel Tomić, Małgorzata Porada-Rochoń

Sympathetic movement between the nominal interest rate on long-term government bonds and the price level first observed by Gibson (1923) remains an open academic debate. Academic debates on Gibson paradox range from being nothing more than a spurious statistical relation to a fact strongly disputing standard micro and macroeconomic theory. The debate today is revived in a period of historic low-interest rates and deflation in many world economies. Keynes (1930/2011) speaks of the observed relation as the most completely established empirical fact in economics.
more

?
NAPOVEDA
reguired
Language