Fisher Effect in the Light of Cognitive Determinism and Chaos Theory
Journal Title: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu - Year 2017, Vol 76, Issue 5
Abstract
In the last few decades the Fisher Effect has been repeatedly falsified, both in the temporal and spatial dimension. In the light of the Popperian concept of verifying the truthfulness of scientific hypotheses, it could be argued that the assertion that a constant level of real interest rate is maintained in the economy under conditions of expected changes in inflation is false. The purpose of the article is to challenge the theoretical basis for such an unequivocal conclusion by applying principles of cognitive determinism to analyse the Fisher Effect and results of empirical research that falsifies it.
Authors and Affiliations
Robert Sobków
Keywords
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