{"created":"2023-06-20T15:02:59.557773+00:00","id":950,"links":{},"metadata":{"_buckets":{"deposit":"81999778-8715-49e2-b5c4-62f353ce4863"},"_deposit":{"created_by":16,"id":"950","owners":[16],"pid":{"revision_id":0,"type":"depid","value":"950"},"status":"published"},"_oai":{"id":"oai:grips.repo.nii.ac.jp:00000950","sets":["1:47"]},"author_link":["6052"],"item_12_description_22":{"attribute_name":"著者情報","attribute_value_mlt":[{"subitem_description":"https://www.grips.ac.jp/list/jp/facultyinfo/rhodes_james/","subitem_description_type":"Other"}]},"item_12_description_6":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"In 1896, Irving Fisher published Appreciation and Interest and put into print the original form of the famous equation that links nominal and real rates of interest. In the past half century, a voluminous literature has misrepresented and misinterpreted Fisher's contribution. The conventional \"Fisher equation\" (CFE) is expressed in terms of expected inflation, whereas the original Fisher equation (OFE) uses the expected appreciation of money. Since the OFE is written in terms of the value of money (1/P), not the value of goods (P), criticisms of the conventional version based on Jensen's inequality do not apply. This paper derives the OFE and explicates its importance. It argues that Fisher's  subtle, non-Patinkin, concept of \"money illusion\" provides an explanation for the departure from pure theory in his subsequent (1930) empirical work. The CFE, although using an inferior index for measuring expected appreciation, is more amenable to Fisher's psychological theory of monetary value.","subitem_description_type":"Abstract"}]},"item_12_description_7":{"attribute_name":"内容記述","attribute_value_mlt":[{"subitem_description":"JEL Classification Codes: E43, E40, G10","subitem_description_type":"Other"}]},"item_12_identifier_registration":{"attribute_name":"ID登録","attribute_value_mlt":[{"subitem_identifier_reg_text":"10.24545/00000950","subitem_identifier_reg_type":"JaLC"}]},"item_12_publisher_12":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"GRIPS Policy Research Center ","subitem_publisher_language":"en"}]},"item_12_rights_14":{"attribute_name":"権利","attribute_value_mlt":[{"subitem_rights":"©2002 by James R. Rhodes. All rights reserved."}]},"item_12_text_10":{"attribute_name":"発行年","attribute_value_mlt":[{"subitem_text_value":"2002-09"}]},"item_12_text_5":{"attribute_name":"著者所属","attribute_value_mlt":[{"subitem_text_value":"政策研究大学院大学 / National Graduate Institute for Policy Studies"}]},"item_12_version_type_19":{"attribute_name":"著者版フラグ","attribute_value_mlt":[{"subitem_version_resource":"http://purl.org/coar/version/c_ab4af688f83e57aa","subitem_version_type":"AM"}]},"item_1693541285410":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2015-02-25","bibliographicIssueDateType":"Issued"},"bibliographicVolumeNumber":"I-2002-0006","bibliographic_titles":[{"bibliographic_title":"GRIPS Discussion Papers","bibliographic_titleLang":"en"}]}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"RHODES, James R.","creatorNameLang":"en"}],"nameIdentifiers":[{}]}]},"item_files":{"attribute_name":"ファイル情報","attribute_type":"file","attribute_value_mlt":[{"accessrole":"open_access","filename":"I-2002-0006.pdf","filesize":[{"value":"1.2 MB"}],"format":"application/pdf","licensetype":"license_note","mimetype":"application/pdf","url":{"label":"I-2002-0006","url":"https://grips.repo.nii.ac.jp/record/950/files/I-2002-0006.pdf"},"version_id":"3f13de04-ee58-494a-a552-6f074a55707f"}]},"item_keyword":{"attribute_name":"キーワード","attribute_value_mlt":[{"subitem_subject":"Fisher equation","subitem_subject_scheme":"Other"},{"subitem_subject":"Fisher hypothesis","subitem_subject_scheme":"Other"},{"subitem_subject":"Fisher effect","subitem_subject_scheme":"Other"},{"subitem_subject":"money illusion","subitem_subject_scheme":"Other"},{"subitem_subject":"nominal interest rate","subitem_subject_scheme":"Other"},{"subitem_subject":"purchasing power of money","subitem_subject_scheme":"Other"},{"subitem_subject":"value of money","subitem_subject_scheme":"Other"}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"eng"}]},"item_resource_type":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"resourcetype":"technical report"}]},"item_title":"INTEREST WITH APPRECIATION: The Original Fisher Equation","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"INTEREST WITH APPRECIATION: The Original Fisher Equation","subitem_title_language":"en"}]},"item_type_id":"12","owner":"16","path":["47"],"pubdate":{"attribute_name":"PubDate","attribute_value":"2015-02-25"},"publish_date":"2015-02-25","publish_status":"0","recid":"950","relation_version_is_last":true,"title":["INTEREST WITH APPRECIATION: The Original Fisher Equation"],"weko_creator_id":"16","weko_shared_id":-1},"updated":"2023-11-20T09:03:55.942131+00:00"}