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Wicksell’s Classical Dichotomy : is the natural rate of interest independent of the money rate of interest?

Beenstock, Michael; Ilek, Alex - In: Journal of macroeconomics 32 (2010) 1, pp. 366-377

Persistent link: https://www.econbiz.de/10003975966

The duration of economic expansions and recessions: More than duration dependence

Beenstock, Michael; Ilek, Alex - In: Journal of macroeconomics 32 (2010) 1, pp. 347-366

Persistent link: https://www.econbiz.de/10008382308

Wicksell's Classical Dichotomy: Is the natural rate of interest independent of the money rate of interest?

Beenstock, Michael; Ilek, Alex - In: Journal of Macroeconomics 32 (2010) 1, pp. 366-377

According to Wicksell's Classical Dichotomy the money rate of interest depends on the natural rate of interest, but the latter does not depend on the former. If this Classical Dichotomy is false monetary policy may induce hysteresis because the natural rate of interest would depend upon the...

Persistent link: https://www.econbiz.de/10008499049