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dc.contributor.authorIlgmann, Cordeliusen
dc.contributor.authorMenner, Martinen
dc.date.accessioned2011-11-17-
dc.date.accessioned2011-11-17T16:40:12Z-
dc.date.available2011-11-17T16:40:12Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/51360-
dc.description.abstractGiven 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
dc.language.isoengen
dc.publisher|aWestfälische Wilhelms-Universität Münster, Centrum für Angewandte Wirtschaftsforschung (CAWM) |cMünsteren
dc.relation.ispartofseries|aCAWM Discussion Paper |x43en
dc.subject.ddc330en
dc.subject.keywordnegative interest ratesen
dc.subject.keywordhistory of economic thoughten
dc.subject.keywordSilvio Gesellen
dc.subject.keywordzero bounden
dc.subject.keywordsearch-theoretical modelsen
dc.subject.keywordmonetary policyen
dc.titleNegative nominal interest rates: History and current proposals-
dc.typeWorking Paperen
dc.identifier.ppn672467909en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cawmdp:43en

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