WebThe Fisher effect was first discovered by the famous economist Irving Fisher to reveal the relationship between inflation expectations and interest rates. It points out that when … Websidered the elements of a life-cycle model, since he stresses the role of borrowing or lend-ing to smooth consumption over time. While it is impressive that Fisher essentially antici-pates the life-cycle theory of saving, it is per-haps more impressive that he also anticipates the behavioral critique of this model (e.g., Hersh Shefrin and ...
Was Irving Fisher Right on Raising Inflation? St. Louis Fed
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Chapter 15. The Money Supply and the Money Multiplier
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