@techreport{NBERw2116,
 title = "Testing for Real Effects of Monetary Policy Regime Shifts",
 author = "Carl E. Walsh",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "2116",
 year = "1987",
 month = "1987",
 URL = "http://www.nber.org/papers/w2116",
 abstract = {Huizinga and Mishkin (1986) have recently proposed a simple method for testing whether monetary policy regime changes have affected the ex-ante real rate of interest. This paper shows that care must be taken in choosing the set of variables on which to project the ex-post real rate if inferences about the ex-ante real rate are to be drawn. It is shown that Huizinga. and Mishkin's tests cannot distinguish between shifts in the real rate process and shifts in the inflation process.},
}