|
EconStor >
Westfälische Wilhelms-Universität Münster (WWU) >
Centrum für angewandte Wirtschaftsforschung Münster (CAWM), Universität Münster >
CAWM Discussion Papers, Universität Münster >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/51360
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Ilgmann, Cordelius | | en_US |
| dc.contributor.author | | Menner, Martin | | en_US |
| dc.date.accessioned | | 2011-11-17 | | en_US |
| dc.date.accessioned | | 2011-11-17T16:40:12Z | | - |
| dc.date.available | | 2011-11-17T16:40:12Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/51360 | | - |
| dc.description.abstract | | Given the renewed interest in negative interest rates as a means for overcoming the zero bound on nominal interest rates, this article reviews the history of negative nominal interest rates and gives a brief survey over the current proposals that received popular attention in the wake of the financial crisis of 2007/08. It is demonstrated that taxing money proposals have a long intellectual history and that instead of being the conjecture of a monetary crank, they are a serious policy proposal. In a second step the article points out that, besides the more popular debate on a Gesell tax as a means to remove the zero bound on nominal interest rates, there is a class of neoclassical search-models that advocates a negative tax on money as efficiency enhancing. This strand of the literature has so far been largely ignored by the policy debate on negative interest rates. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | CAWM Münster | | en_US |
| dc.relation.ispartofseries | | CAWM discussion paper / Centrum für Angewandte Wirtschaftsforschung Münster 43 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | negative interest rates | | en_US |
| dc.subject.keyword | | history of economic thought | | en_US |
| dc.subject.keyword | | Silvio Gesell | | en_US |
| dc.subject.keyword | | zero bound | | en_US |
| dc.subject.keyword | | search-theoretical models | | en_US |
| dc.subject.keyword | | monetary policy | | en_US |
| dc.title | | Negative nominal interest rates: History and current proposals | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 672467909 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| dc.identifier.repec | | RePEc:zbw:cawmdp:43 | | - |
| Appears in Collections: | | CAWM Discussion Papers, Universität Münster
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|