Overcoming the Zero Bound on Nominal Interest Rates: Gesell's Currency Carry Tax vs. Eisler's arallel Virtual Currency
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Willem H. Buiter, 2004. "The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Should New Keynesian Central Bankers Pursue Price Stability?," NBER Working Papers 10848, National Bureau of Economic Research, Inc.
- Mitsuhiro Fukao, 2005. "The effects of ‘Gesell’ (Currency) taxes in promoting Japan's economic recovery," International Economics and Economic Policy, Springer, vol. 2(2), pages 173-188, November.
- Buiter, Willem, 2004. "The Elusive Welfare Economics of Price Stability As A Monetary Policy Objective: Should New Keynesian Central Bankers Persue Pr," CEPR Discussion Papers 4730, C.E.P.R. Discussion Papers.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Simon Papaud, 2022. "Libertarian economic thought and non-capitalist money," Working Papers hal-04084725, HAL.
- Buiter, Willem H., 2007.
"Seigniorage,"
Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 1, pages 1-49.
- Willem H. Buiter, 2007. "Seigniorage," NBER Working Papers 12919, National Bureau of Economic Research, Inc.
- Buiter, Willem H., 2007. "Seigniorage," LSE Research Online Documents on Economics 19733, London School of Economics and Political Science, LSE Library.
- Buiter, Willem H., 2007. "Seigniorage," Economics Discussion Papers 2007-8, Kiel Institute for the World Economy (IfW Kiel).
- Buiter, Willem H., 2007. "Seigniorage," LSE Research Online Documents on Economics 3322, London School of Economics and Political Science, LSE Library.
- Willem Buiter, 2007. "Seigniorage," CEP Discussion Papers dp0786, Centre for Economic Performance, LSE.
- Buiter, Willem, 2007. "Seigniorage," CEPR Discussion Papers 6152, C.E.P.R. Discussion Papers.
- Taiji HARASHIMA, 2016.
"A Theory Of Deflation: Can Expectations Be Influenced By A Central Bank?,"
Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 7(2), pages 98-145.
- Harashima, Taiji, 2016. "A Theory of Deflation: Can Expectations Be Influenced by a Central Bank?," MPRA Paper 71276, University Library of Munich, Germany.
- Nasir, Muhammad Ali, 2021. "Zero Lower Bound and negative interest rates: Choices for monetary policy in the UK," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 200-229.
- Von dem Berge, Lukas, 2014. "Parallel currencies in historical perspective," CAWM Discussion Papers 75, University of Münster, Münster Center for Economic Policy (MEP).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Buiter, Willem H., 2006. "The elusive welfare economics of price stability as a monetary policy objective: why New Keynesian central bankers should validate core inflation," Working Paper Series 609, European Central Bank.
- Willem H. Buiter, 2008.
"Central banks and financial crises,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 495-633.
- Buiter, Willem H., 2008. "Central banks and financial crises," LSE Research Online Documents on Economics 24438, London School of Economics and Political Science, LSE Library.
- . . & Willem Buiter, 2008. "Central banks and financial crises," FMG Discussion Papers dp619, Financial Markets Group.
- Franklin Allen & Elena Carletti, 2008. "The role of liquidity in financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 379-412.
- Canzoneri, Matthew & Cumby, Robert & Diba, Behzad, 2010. "The Interaction Between Monetary and Fiscal Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 17, pages 935-999, Elsevier.
- Willem Buiter, 2005. "Overcoming the zero bound on nominal interest rates: Gesell’s currency carry tax vs. Eisler’s parallel virtual currency," International Economics and Economic Policy, Springer, vol. 2(2), pages 189-200, November.
- Stanley Fischer, 2008. "General discussion : the role of liquidity in financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 423-430.
- Peter R. Fisher, 2008. "Commentary : the role of liquidity in financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 413-422.
- Jean-Charles Rochet, 2008. "Commentary : rethinking capital regulation," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 473-483.
- Cordelius Ilgmann & Martin Menner, 2011.
"Negative nominal interest rates: history and current proposals,"
International Economics and Economic Policy, Springer, vol. 8(4), pages 383-405, December.
- Cordelius Ilgmann, Martin Menner, "undated". "Negative Nominal Interest Rates: History and Current Proposals," Working Papers 201143, Institute of Spatial and Housing Economics, Munster Universitary.
- Ilgmann, Cordelius & Menner, Martin, 2011. "Negative nominal interest rates: History and current proposals," CAWM Discussion Papers 43, University of Münster, Münster Center for Economic Policy (MEP).
- Ilgmann, Cordelius, 2011. "Silvio Gesell: 'a strange, unduly neglected' monetary theorist," CAWM Discussion Papers 23, University of Münster, Münster Center for Economic Policy (MEP).
- Mitsuhiro Fukao, 2021. "Comment on “The Welfare Implications of Massive Money Injection: The Japanese Experience from 2013 to 2020”," Asian Economic Policy Review, Japan Center for Economic Research, vol. 16(2), pages 245-246, July.
- Ulrich van Suntum & Metin Kaptan & Cordelius Ilgmann, "undated". "Reducing the lower bound on market interest rates," Working Papers 200103, Institute of Spatial and Housing Economics, Munster Universitary.
- Loehr, Dirk, 2012. "The euthanasia of the rentier — A way toward a steady-state economy?," Ecological Economics, Elsevier, vol. 84(C), pages 232-239.
More about this item
Keywords
zero bound; deflation; carry tax on currency; parallel virtual currency;All these keywords.
JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MAC-2005-06-27 (Macroeconomics)
- NEP-MON-2005-06-27 (Monetary Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hst:hstdps:d05-96. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tatsuji Makino (email available below). General contact details of provider: https://edirc.repec.org/data/iehitjp.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.