A random walk through the Gibson paradox
指出，用名义利率与价格水平的简单相关或线性回归来支持吉布森悖论的做法是虚假的，因为这两个变量都是非平稳的且不构成协整系统。
Abstract Evidence to support the Gibson paradox is often given in the form of a simple correlation between the nominal interest rate and the log of price level, or in the form of a simple linear regression between these two variables. 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.