The Interest Rate Should not be Interpreted as a Price
Abstract The paper criticises interpretations of the interest rate as a price. Prices are exchange ratios for different objects; the interest rate is a parameter characterising an intertemporal exchange ratio but is not itself an exchange ratio. Therefore, negative (real) interest rates can arise na...
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| Main Author: | |
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| Format: | Article |
| Language: | deu |
| Published: |
Sciendo
2021-11-01
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| Series: | Wirtschaftsdienst |
| Online Access: | https://doi.org/10.1007/s10273-021-3051-x |
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