Working PaperFirst publicationPublished version DOI: 10.48548/pubdata-2012 Handle: 20.500.14123/10266
Monetary policy with an optimal interest structure
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Chronological data
Date of first publication2010-07
Date of publication in PubData 2025-07-31
Language of the resource
English
Abstract
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.
Keywords
Liquidity Premium; Liquidity Trap; Liquidity Charges
Series title
Number of the series contribution
179