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Wicksell, secular stagnation and the negative natural rate of interest
Boianovsky, Mauro - 2016
development of inflation targeting policy in the 1990s. More recently, the revival of Alvin Hansen's 1939 secular stagnation …Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and … paper investigates whether the negative natural rate of interest may be found in Wicksell. It also examines in what extent …
Persistent link: https://www.econbiz.de/10011613807
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Wicksell, Secular Stagnation and the Negative Natural Rate of Interest
Boianovsky, Mauro - 2017
development of inflation targeting policy in the 1990s. More recently, the revival of Alvin Hansen's 1939 secular stagnation …Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and … paper shows that the notion of a negative natural rate of interest may be found in Wicksell under different guises. It also …
Persistent link: https://www.econbiz.de/10012968402
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Wicksell, secular stagnation and the negative natural rate of interest
Boianovsky, Mauro - In: History of economic ideas : HEI 25 (2017) 2, pp. 37-61
Persistent link: https://www.econbiz.de/10012128221
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Inequality, household debt, ageing and bubbles : a model of demand-side Secular Stagnation
Di Bucchianico, Stefano - 2021
The mainstream concept of Secular Stagnation provides a comprehensive theoretical picture to explain sluggish economic … entailed by the theoretical framework in which the theory is located, this paper offers a perspective on US stagnation that is …. Stagnation is the result of the failure to move from a household debt-plus-bubble-led model to a model led by public expenditure …
Persistent link: https://www.econbiz.de/10012512676
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Taylor-rule consistent estimates of the natural rate of interest
Brand, Claus; Mazelis, Falk - 2019
We estimate the natural rate of interest for the US and the euro area in a semi-structural model comprising a Taylor rule. Our estimates feature key elements of Laubach and Williams (2003), but are more consistent with using conventional policy rules: we model inflation to be stationary, with...
Persistent link: https://www.econbiz.de/10011994643
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Financial Stability, Monetarism and the Wicksell Connection
Laidler, David - In: Review of Economic Analysis 1 (2009) 1, pp. 60-79
In today's discussions of central banking, maintaining macro-financial stability has only recently appeared along-side the pursuit of low inflation as an important policy goal. This is in strong contrast to the earlier literature, where financial stability was often the main concern of the...
Persistent link: https://www.econbiz.de/10008683513
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Financial Stability, Monetarism and the Wicksell Connection
Laidler, David - University of Western Ontario, Economic Policy Research … - 2007
In today's discussions of central banking, maintaining macro-financial stability has only recently appeared along-side the pursuit of low inflation as an important policy goal. This is in strong contrast to the earlier literature, where financial stability was often the main concern of the...
Persistent link: https://www.econbiz.de/10005730739
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Reading Keynes in Buenos Aires : Prebisch and the dynamics of capitalism
Pérez Caldentey, Esteban; Vernengo, Matías - 2013
Keynes had a profound influence on Prebisch in terms of the diagnosis about the main failures of market economies and the need to pursue pro-active and anti-cyclical policies. However, Prebisch was critical of some aspects of Keynes' General Theory of Employment, Interest and Money, in...
Persistent link: https://www.econbiz.de/10009765700
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The monetary economy and the economic crisis
Laidler, David E. W. - 2010
monetary economy critical to the generation of economic crises and the stagnation that follows them is its capacity to permit …
Persistent link: https://www.econbiz.de/10008655700
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The monetary economy and the economic crisis
Laidler, David E. W. - 2011 - Revised, January 2011
monetary economy critical to the generation of economic crises and the stagnation that follows them is its capacity to permit …
Persistent link: https://www.econbiz.de/10011708307