{
  "title": "Can Switching Between Inflationary Regimes Explain Fluctuations in Real Interest Rates?",
  "publication": "IMF Working Papers, October 1, 1997",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/can-switching-between-inflationary-regimes-explain-fluctuations-in-real-interest-rates-2355",
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  "summary": "It has recently been suggested that allowing for switches between different inflationary regimes produces a much better fit for the Fisher relationship between interest rates and inflation, at least for U.S. data.",
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    {
      "heading": "Summary",
      "content": "- It has recently been suggested that allowing for switches between different inflationary regimes produces a much better fit for the Fisher relationship between interest rates and inflation, at least for U.S. data.\n- The paper assesses the merits of the regime-switching theory as an explanation for the apparent fluctuations in real interest rates in Australia, Canada, Germany, the United Kingdom, and the United States."
    },
    {
      "heading": "Assessment and Scope",
      "content": "- Geographic coverage:\n  - Australia\n  - Canada\n  - Germany\n  - United Kingdom\n  - United States\n- Central research question:\n  - Whether switching between different inflationary regimes can explain fluctuations in real interest rates.\n- Relationship considered:\n  - The Fisher relationship between interest rates and inflation."
    },
    {
      "heading": "Subject Areas and Keywords",
      "content": "- Subject: Financial services, Inflation, Long term interest rates, Prices, Real interest rates, Short term interest rates, Yield curve\n- Keywords: debt ratio, dependent variable, high-inflation regime, Inflation, inflation rate, interest rate, interest rate data, interest rates, Long term interest rates, long-term interest rates, LR statistic, nominal interest rate, real interest rate, Real interest rates, running mean inflation, Short term interest rates, test statistics, white-noise process, WP, Yield curve, yield gap\n\n---\n\n Content in this bundle\n\n- Can Switching Between Inflationary Regimes Explain Fluctuations in Real Interest Rates? - WP/97/131\n  - Can Switching Between Inflationary Regimes Explain Fluctuations in Real Interest Rates? - WP/97/131 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Can Switching Between Inflationary Regimes Explain Fluctuations in Real Interest Rates? - WP/97/131 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/can-switching-between-inflationary-regimes-explain-fluctuations-in-real-interest-rates-2355"
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    "Authors: M. F. Bleaney",
    "Published: October 1, 1997",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451855241.001",
    "It has recently been suggested that allowing for switches between different inflationary regimes produces a much better fit for the Fisher relationship between interest rates and inflation, at least for U.S. data.",
    "The paper assesses the merits of the regime-switching theory as an explanation for the apparent fluctuations in real interest rates in Australia, Canada, Germany, the United Kingdom, and the United States.",
    "Geographic coverage:",
    "Central research question:",
    "Relationship considered:",
    "Subject: Financial services, Inflation, Long term interest rates, Prices, Real interest rates, Short term interest rates, Yield curve",
    "Keywords: debt ratio, dependent variable, high-inflation regime, Inflation, inflation rate, interest rate, interest rate data, interest rates, Long term interest rates, long-term interest rates, LR statistic, nominal interest rate, real interest rate, Real interest rates, running mean inflation, Short term interest rates, test statistics, white-noise process, WP, Yield curve, yield gap",
    "**Can Switching Between Inflationary Regimes Explain Fluctuations in Real Interest Rates? - WP/97/131**"
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