Abstract
What is economic history? I favor a counterpart of Bertrand Russell’s definition of matter: ‘[that which] satisfies the equations of physics’.
(1967).
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Notes and References
Professor Meiselman is currently most prominently identified with expectations-oriented hypotheses for term-structures. But J. A. G. Grant, ‘Meiselman on the Structure of Interest Rates: A British Test’, Economica, 31, pp. 51–71 (February 1964) finds Meiselman’s hypothesis to be inconsistent with British data, a result I should have expected to obtain on a priori grounds: bill rate at London is based so much on official determination that it is hard to believe that expectations can be captured by distributed-lag formulations.
Cf. Don Patinkin, Money, Interest, and Prices (Evanston, Ill., 1956) p. 155.
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© 1988 M. L. Burstein
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Burstein, M.L. (1988). Homer on the History of Interest Rates. In: Studies in Banking Theory, Financial History and Vertical Control. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-09978-8_8
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