89,484 research outputs found
«That is what our job is. We light the flame»: An interview with Valerie Fisher, a Canadian elementary teacher at R. Gordon Sinclair Memorial School, Kingston, Ontario
No full textHow to reference this articleQuiroga Uceda, P. (2016). «That is what our job is. We light the flame»: An interview with Valerie Fisher, a Canadian elementary teacher at R. Gordon Sinclair Memorial School, Kingston, Ontario. Foro de Educación, 14(20), 517-529. doi: http://dx.doi.org/10.14516/fde.2016.014.020.025 Cómo referenciar este artículo Quiroga Uceda, P. (2016). «That is what our job is. We light the flame»: An interview with Valerie Fisher, a Canadian elementary teacher at R. Gordon Sinclair Memorial School, Kingston, Ontario. Foro de Educación, 14(20), 517-529. doi: http://dx.doi.org/10.14516/fde.2016.014.020.025
The Persistence of the R.A. Fisher-Sewall Wright Controversy
No full textThis paper considers recent heated debates led by Jerry A. Coyne and Michael J. Wade on issues stemming from the 1929-1962 R. A. Fisher-Sewall Wright controversy in population genetics. William B. Provine once remarked that the Fisher-Wright controversy is central, fundamental, and very influential. Indeed, it is also persistent. The argumentative structure of the recent (1997-2000) debates is analyzed with the aim of eliminating a logical conflict in them, viz., that the two “sides” in the debates have different aims and that, as such, they are talking past each other. Given a philosophical analysis of the argumentative structure of the debates, suggestions supportive of Wade’s work on the debate are made that are aimed, modestly, at putting the persistent Fisher-Wright controversy on the course to resolution
Fisher effect in nonlinear STAR framework: some evidence from Asia
No full textThis study tests the presence of the long run Fisher effect in eight Asian economies. Using monthly data and a variety of interest rates, the paper employs a recent nonlinear methodology to capture the long run relationship between the nominal interest rate and the inflation rate. The estimation results on the basis of the new methodology are encouraging and indicate the validity of Fisher effect in almost all the examined economies.Non-linearity, Unit Roots, Cointegration, ADF
Testing for a nonlinear Fisher relationship
No full textEmpirical evidence regarding the Fisher effect is mixed. One reason may be a nonlinear adjustment process in the real interest rate. The nonlinear unit root test proposed by Sollis, Leybourne, and Newbold (Journal of Money, Credit, and Banking 34: 686-700, 2002) is used to test for stationarity of the U.S. real interest rate over the 1934:01-2011:02 period and selected subperiods. The unit root null in the real rate of interest can be rejected over the full sample, evidence of a Fisher effect. Weaker evidence of a Fisher relation is found in the subsample for 1934:01-1959:12 for which the unit root null can be rejected for one measure of the real interest rate. However, there is no indication of a Fisher effect for subperiods starting in 1960 or later. A conjecture is that temporal aggregation of the interest rate data may explain the different results, but the findings are also consistent with other explanations.Fisher effect, nonlinear unit root, U.S. real interest rate
Panel cointegration analysis of the Fisher effect: Evidence from the US, the UK, and Japan
No full textThis paper analyzes the Fisher effect using a panel of monthly data from January 1990 to December 2010 for three major countries: the United States, the United Kingdom, and Japan. Our empirical results contribute to the existing empirical literature in two ways. First, the study conducts panel cointegration tests and estimation. Second, it examines the validity of the Fisher hypothesis using short-term and long-term nominal interest rates. The empirical results show that the full Fisher effect holds from January 1990 to December 2010.Fisher effect, panel cointegration test, dynamic ordinary least squares, fully modified ordinary least squares
Structural breaks, cointegration and the Fisher effect
No full textThere is scant empirical support in the literature for the Fisher effect in the long run, though it is often assumed in theoretical models. We argue that a break in the cointegrating relation introduces a spurious unit root that leads to a rejection of cointegration. We applied new break tests and tested for nonlinearity in the cointegrating relation with post-war data for 15 countries. Our empirical results support cointegration, after accounting for breaks, and a linear Fisher relation in the long run. This is in contrast to several recent studies that found no support for linear cointegration. JEL Classification: E43, C32Fisher effect, linear and nonlinear cointegration, Structural change
Can asymmetries account for the empirical failure of the Fisher effect in South Africa?
No full textThis paper investigates whether unobserved asymmetries can account for irregularities in the Fisher effect for the exclusive case of South Africa. This objective is attained by investigating unit roots within a threshold auto-regressive (TAR) models and estimating a threshold vector error correction (TVEC) models for the data. The empirical analysis depicts significant long-run Fisher effects whereas such effects are deficient with regards to the short-run. These results improve on those obtained in preceding studies for South Africa, in the sense of being closely emulated with the original hypothesis as presented by Fisher (1907).South Africa, Fisher effect, Inflation, Interest Rates, Threshold Co-integration
A Resolution of the Fisher Effect Puzzle: A Comparison of Estimators
No full textThis paper attempts a resolution of the Fisher effect puzzle in terms of estimator choice. Using both short-term and long-term interest rates for 14 OECD countries, we find ample evidence supporting the existence of a long-run Fisher effect in which interest rates move oneto- one with inflation. Our results suggest that the reason why the Fisher effect has not found support internationally lies on the estimation method. When the hypothesis of a unit coefficient relating interest rates to expected inflation is tested within the Autoregressive Distributed Lag (ADL) framework, which is invariant to the integration properties of the data, the Fisher effect easily survives the empirical evidence. Similar, but less robust, results are reached on the grounds of the Pre-Whitened Fully Modified Least Squares (PW-FMLS) or the Johansen’s (JOH) estimators.Cointegration Estimators; Fisher Effect; ADL; DOLS; Small-sample properties
A Resolution of the Fisher Effect Puzzle: A Comparison of Estimators
No full textThis paper attempts a resolution of the Fisher effect puzzle in terms of estimator choice. Using both short-term and long-term interest rates for 14 OECD countries, we find ample evidence supporting the existence of a long-run Fisher effect in which interest rates move oneto- one with inflation. Our results suggest that the reason why the Fisher effect has not found support internationally lies on the estimation method. When the hypothesis of a unit coefficient relating interest rates to expected inflation is tested within the Autoregressive Distributed Lag (ADL) framework, which is invariant to the integration properties of the data, the Fisher effect easily survives the empirical evidence. Similar, but less robust, results are reached on the grounds of the Pre-Whitened Fully Modified Least Squares (PW-FMLS) or the Johansen’s (JOH) estimators.Cointegration Estimators,Fisher Effect,ADL; DOLS Small-sample properties
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