摘要：AbstractFisher effect which can be defined as a positive relation between nominal interest rate and inflation rate without any impact upon real interest rates is something that holders of savings and investments, as well as implementers of monetary policy, pay attention to. In this study, the seasonal series between 1989:Q1 and 2011:Q4 are used to test the validity of Fisher Hypothesis for Turkish economy by Johansen cointegration analysis and VAR method. It is concluded that in the long term, Fisher impact is valid for Turkish economy.
