Abstract
This paper re-examines the effect of taxes on the Fisher hypothesis. Using a procedure first proposed by Peek, and using data through the 1980s and a new data set on expected inflation for the US, the tax-adjusted hypothesis is rejected in favor of the no tax-adjusted hypothesis for the period 1968:IV to 1979:IV; for the full sample, both hypotheses are accepted. These results are thus quite different from those reported by Peek. A brief discussion of the factors responsible for these differences is provided.
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