Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/290399 
Authors: 
Year of Publication: 
2024
Series/Report no.: 
Hohenheim Discussion Papers in Business, Economics and Social Sciences No. 02-2024
Publisher: 
Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften, Stuttgart
Abstract: 
Hajo Riese (FU Berlin) was a pioneer of the "Berlin School of Monetary Keynesianism", particularly in the 1980s and 1990s. His research work was based on the roots of monetary theory in the work of J. M. Keynes, with a particular focus on the theory of capital and interest rates. While in Keynes liquidity preference remained an element of money demand, for Riese it formed the central variable of a theory of credit supply. The credit contract is not based on goods or goods equivalents, but on the nominal category of money, because this is the sole medium for the fulfilment of contracts. In addition to the interest rate, the rate of return on real capital is also determined by the liquidity premium. The central bank has to take into account the regulatory-theoretical significance of monetary stability, which runs counter to the "easy money policy" usually demanded by Keynesians.
Subjects: 
Keynesianismus
Monetarismus
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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