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Working Paper
Beaches, beaver, buffalo and banks
Working Paper
Interest rates, commodity price changes and Gibson's paradox
This paper argues that the positive relationship between the level of prices and interest rates noted by Gibson arises, in part, because measured prices indexes, which are comprised primarily of the prices of short-lived consumption goods, and nominal interest rates are both driven in the same direction by changes in the real rate of interest.
Working Paper
Some problems with current price indexes
Journal Article
Unreal estimates of the real rate of interest
Journal Article
A private central bank: some olde English lessons
Journal Article
The effects of inflation on commercial banks