THE ORIGINS OF YIELD CURVE THEORY: IRVING FISHER AND JOHN MAYNARD KEYNES
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Published:2023-12-11
Issue:
Volume:
Page:1-17
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ISSN:1053-8372
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Container-title:Journal of the History of Economic Thought
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language:en
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Short-container-title:J Hist Econ Thought
Abstract
The purpose of the paper is to rescue Irving Fisher’s theorizing of the yield curve (1896, 1907, 1930) from relative obscurity and to contrast it with the better known and equally pioneering theory of John Maynard Keynes (1930, 1936). The paper also adduces evidence that Fed economists and the U.S. monetary experience in the 1920s greatly influenced these authors, both of whom were concerned with the management of the long-term interest rate.
Publisher
Cambridge University Press (CUP)
Subject
History and Philosophy of Science,General Economics, Econometrics and Finance,General Arts and Humanities
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