The Fisher Relation in the Great Depression and the Great Recession

by David Laidler

The Fisher relation played a very different role in debates surrounding the Great Depression and the more recent Great Recession. This paper explores some of these differences, and suggests an explanation for them derived from a sketch of the idea's evolution between the two events, thus providing a brief case study of the interaction of economic ideas and economic events that is a central feature of the History of Economic Thought. -- Interest rates ; nominal vs. real ; Inflation ; deflation ; expectations ; depression ; recession ; Keynesian economics ; monetarism ; monetary policy

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Year of publication:	2013
Authors:	Laidler, David E. W.
Publisher:	London, Ontario : EPRI
Subject:	Geldpolitik \| Monetary policy \| Zins \| Interest rate \| Nominalzins \| Nominal interest rate \| Inflationserwartung \| Inflation expectations \| Deflation \| Konjunktur \| Business cycle \| Keynesianismus \| Keynesian economics \| Monetarismus \| Monetarism