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Authors then show, using standard procedures of statistical inference, that the price level possesses a significant coefficient. We argue that this class of evidence is spurious since the nominal interest rate and the price level (both integrated variables) do not form a cointegrated system.<\/jats:p>","DOI":"10.1002\/jae.3950040307","type":"journal-article","created":{"date-parts":[[2007,7,12]],"date-time":"2007-07-12T14:49:11Z","timestamp":1184251751000},"page":"295-303","source":"Crossref","is-referenced-by-count":10,"title":["A random walk through the Gibson paradox"],"prefix":"10.1002","volume":"4","author":[{"given":"Dean","family":"Corbae","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Sam","family":"Ouliaris","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2006,8,8]]},"reference":[{"key":"e_1_2_1_2_1","volume-title":"The Statistical Analysis of Time Series","author":"Anderson T.","year":"1971"},{"key":"e_1_2_1_3_1","doi-asserted-by":"publisher","DOI":"10.1086\/261550"},{"key":"e_1_2_1_4_1","first-page":"587","volume-title":"A Retrospective on the Classical Gold Standard, 1821\u20131931","author":"Benjamin D.","year":"1984"},{"key":"e_1_2_1_5_1","volume-title":"A Monetary History of the United Kingdom, 1870\u20131982","author":"Cappie F.","year":"1985"},{"key":"e_1_2_1_6_1","doi-asserted-by":"publisher","DOI":"10.2307\/2343272"},{"key":"e_1_2_1_7_1","doi-asserted-by":"publisher","DOI":"10.2307\/1913236"},{"key":"e_1_2_1_8_1","first-page":"487","article-title":"Interest Rates and Inflation: The Message in the Entrails","volume":"67","author":"Fama E.","year":"1977","journal-title":"American Economic Review"},{"key":"e_1_2_1_9_1","doi-asserted-by":"publisher","DOI":"10.1016\/0304-3932(82)90021-6"},{"key":"e_1_2_1_10_1","volume-title":"Theory of Interest","author":"Fisher I.","year":"1930"},{"key":"e_1_2_1_11_1","volume-title":"Monetary Trends in the United States and the United Kingdom","author":"Friedman M.","year":"1983"},{"key":"e_1_2_1_12_1","doi-asserted-by":"publisher","DOI":"10.1016\/0304-3932(78)90027-2"},{"key":"e_1_2_1_13_1","doi-asserted-by":"publisher","DOI":"10.1016\/0304-4076(74)90034-7"},{"key":"e_1_2_1_14_1","volume-title":"A History of Interest Rates","author":"Homer S.","year":"1977"},{"key":"e_1_2_1_15_1","volume-title":"Treatise on Money","author":"Keynes J. 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