Expectations, taxes and interest : the search for the Darby Effect in Australia

Senescall, Richard V. (1986). Expectations, taxes and interest : the search for the Darby Effect in Australia Honours Thesis, School of Economics, University of Queensland.

       
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Author Senescall, Richard V.
Thesis Title Expectations, taxes and interest : the search for the Darby Effect in Australia
School, Centre or Institute School of Economics
Institution University of Queensland
Publication date 1986
Thesis type Honours Thesis
Total pages 109
Language eng
Subjects 14 Economics
Formatted abstract This paper covers the historical development of the Fisher Hypothesis in the U.S. and the more recent work derived from that hypothesis on the Darby Effect. A review of the relevant works in relation to the Australian economy is conducted and then data is applied to Ayanian's model to test of the presence of the Darby Effect in Australia. Ayanian’s model was chosen for its measurability of variables and its ease of interpreting the results. Data for the Australian experiment was collected on the basis of 2 years expectations on the grounds that this would show the full Darby Effect undistorted by short run inconsistancies, if any.

The results indicate a complete lack of the Effect in the determination of Australian nominal interest rates, but this could be due to several factors, not the least of which is the nature of the Australian economy itself.

 
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