Monetary policy with an optimal interest structure

Arbeitspapier

From the normatively given aims of the macroeconomic equilibrium, which describe the target state of an economy system, necessary conditions are derived at an optimal growth path with maximum consumption and maximum profits on the interest structure of a market economy, by using the golden rule of capital accumulation of Allais and the own-rate of interest theory of Keynes. From the conditions for an optimal interest structure a new monetary policy is developed, which promises stability without compound interest effect, growth without compulsion, stability of prices and full employment payable from interest savings.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper Series in Economics ; No. 179

Classification and Topics

• Classification: Wirtschaft
• Subject: liquidity premium ; liquidity trap ; liquidity charges ; interest structure ; own-rate of interest ; negative interest ; neutral liquidity ; optimal liquidity ; neutral money ; optimal growth path ; Allais theorem ; golden rule of capital accumulation ; quantity equation ; circulation safeguarding ; price stability ; monetary policy ; monetary order policy ; Geldpolitik ; Zinsstruktur ; Optimales Wachstum ; Verschuldungsrestriktion ; Preisniveaustabilität ; Zinspolitik ; Zinsstrukturtheorie ; Theorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Olah, Norbert ; Huth, Thomas ; Löhr, Dirk
• Event: Veröffentlichung
• (who): Leuphana Universität Lüneburg, Institut für Volkswirtschaftslehre
• (where): Lüneburg
• (when): 2010

Further information

• Handle: http://hdl.handle.net/10419/57113