Fisher Effect as an Example of Methodological Essentialism in Light of the Development of Economic Thought
Journal Title: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu - Year 2017, Vol 72, Issue 1
Abstract
Simplifying assumptions create the basis for theoretical framework and Irving Fisher’s theory on changes in nominal interest rates in an inflationary environment also follows suit. These simplifications should be described by their authors within the scope of a given theory. However, Fisher sidestepped this issue in his research work. Thus, the aim of this article was to detect the simplifying assumptions of the Fisher effect as well as to indicate the extent of their impact on the theory described. Furthermore, the twentieth century’s development of economic thought and changes in global economy established the basis for evaluating the adequacy of the aforementioned simplifications. Hence, this analysis supports the view of the necessity to view the Fisher effect as a historical generalization.
Authors and Affiliations
Robert Sobków
Keywords
Related Articles
- EP ID EP223405
- DOI -
- Views 82
- Downloads 0
Zameranie sa na finančnú gramotnosť medzi vysokoškolskými študentmi
Finančné poznatky majú dôležité dôsledky na blaho a politiky zamerané na zvýšenie úrovne finančných poznatkov v populácii ako celku. Napriek rýchlemu rozšíreniu finančne kom plexných produktov na trhu, vrátane úverov, hy...
The state and development trendsof management accounting in the global environment
The objective of the paper is to discuss the state-of-the-art and development trends of management accounting practice in a global environment. This was done on the basis of research conducted by other authors in the con...
The Effects of Selected Tax Preferences on Public Finance
Taxes are considered to be basic, yet the most effective instruments of the state’s fiscal policy. This results from the universal nature of imposing taxes and from considerable impact of taxes on taxpayers’ behaviours....
Economic Socialization of Children of Preschool Age in Pedagogical Thought
The article highlights the relevance of economic socialization of children of preschool age, which results from the modern realities of preschool education. The authors define the concepts of “socialization,” “economic s...
Non-financial reporting of selected Osnabrück companies. An analysis of the current situation report
From 2017 onwards, some large companies have to publish a non-financial annual statement to comply with the EU directive. The statement should provide information relating to environmental matters, social and employee-re...