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Silvio Gesell: 'a strange, unduly neglected' monetary theorist

Ilgmann, Cordelius - 2011

his close affiliation with anarchism. The article then gives a concise summary of Gesell's theory of effective demand and … evidence for rejecting Hick's classic interpretation of the General Theory. If one takes Keynes extensive discussion of Gesell …'s theory of interest as a key for understanding the General Theory, Keynes main innovation of General Theory becomes a monetary …

Persistent link: https://www.econbiz.de/10010307133

Model misspecification, the equilibrium natural interest rate and the equity premium

Tristani, Oreste - 2007

This paper analyses the determinants of the natural rate of interest in a non-linear model where agents are uncertain over both future technology growth and the future course of monetary policy. I show that the real natural rate can be affected by sizable uncertainty premia, including premia...

Persistent link: https://www.econbiz.de/10011604854

Macht oder ökonomisches Gesetz? Studien zur Entwicklung der ökonomischen Theorie XXXV

Trautwein, Hans-Michael (contributor) - 2020

political influence on functional income distribution in the labour market. It contains essays on Böhm-Bawerk’s temporal theory …

Persistent link: https://www.econbiz.de/10014493042

On the micro-foundations of money: The Capitol Hill Baby-Sitting Co-op

Hens, Thorsten; Schenk-Hoppe, Klaus Reiner; Vogt, Bodo - 2003

This paper contributes to the micro-foundation of money in centralized markets with idiosyncratic uncertainty. It shows existence of stationary monetary equilibria and ensures that there is an optimum quantity of money. The rational solution of our model is compared with actual behavior in a...

Persistent link: https://www.econbiz.de/10010295388

The Demand for Currency Substitution

Seater, John J. - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-35, pp. 1-30

the model. Independent empirical work provides support for the theory. …

Persistent link: https://www.econbiz.de/10010298619

Persistency and Money Demand Distortions in a Stochastic DGE Model with Sticky Prices and Capital

Gail, Michael - 2002

This paper considers the implications of adding capital as a factor of production in a stochastic DGE model with sticky prices. Particular attention is given to the role of money demand and to the form of the utility function. I consider cash-in-advance- (CIA) as well as...

Persistent link: https://www.econbiz.de/10010322084

Persistency and Money Demand Distortions in a Stochastic DGE Model with Sticky Prices

Gail, Michael - 2001

Recently macroeconomists have intensified their efforts to develop models that are able to generate persistent reactions of real variables to monetary shocks in stochastic DGE models with nominal rigidities. This has proven to be quite difficult in models with price staggering only. Most papers...

Persistent link: https://www.econbiz.de/10010322088

Issues in stability of European money demand: Adjustment speed versus error variance

Läufer, Nikolaus K. A. - 1997

The current discussion about stability of the European money demand function is flawed by a confusion of two different concepts of stability (adjustment speed versus error variance). The meaning and importance of the underlying notions of stability is clarified. It is demonstrated that necessary...

Persistent link: https://www.econbiz.de/10010398202

Netzgeld als Transaktionsmedium

Kabelac, Gabriele - 1999

Elektronisches Geld stellt die (vorerst) neueste Innovation im Bereich des Zahlungsverkehrs dar. Inwieweit sich aus seiner Verbreitung Konsequenzen für die Geldpolitik ergeben, hängt nicht zuletzt davon ab, in welchem Umfang elektronisches Geld vom Publikum tatsächlich zu Zahlungszwecken...

Persistent link: https://www.econbiz.de/10010478856

Cyber money as a medium of exchange

Kabelac, Gabriele - 1999

Electronic money constitutes (for the time being) the most recent innovation in payment instruments. The extent to which the further spread of electronic money might have consequences for monetary policy depends not least on the actual demand for electronic money. Numerous studies have sought to...

Persistent link: https://www.econbiz.de/10010478857

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