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Monetary policy with an optimal interest structure

Author

Listed:
  • Thomas Huth

    (Institute of Economics, Leuphana University of Lüneburg, Germany)

  • Norbert Olah

    (Institute of Economics, Leuphana University of Lüneburg, Germany)

  • Dirk Löhr

    (Institute of Economics, Leuphana University of Lüneburg, Germany)

Abstract

From the normatively given aims of the macroeconomic equilibrium, which describe the target state of an economy system, necessary conditions are derived at an optimal growth path with maximum consumption and maximum profits on the interest structure of a market economy, by using the golden rule of capital accumulation of Allais and the own-rate of interest theory of Keynes. From the conditions for an optimal interest structure a new monetary policy is developed, which promises stability without compound interest effect, growth without compulsion, stability of prices and full employment payable from interest savings.

Suggested Citation

  • Thomas Huth & Norbert Olah & Dirk Löhr, 2010. "Monetary policy with an optimal interest structure," Working Paper Series in Economics 179, University of Lüneburg, Institute of Economics.
    • Handle: RePEc:lue:wpaper:179
    as

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