Economics, Econometrics and Finance
6 years ago

Schumpeter's analysis reveals new insights on monetary nature of interest rates.

1 view
Journal of Post Keynesian Economics
On the monetary nature of the interest rate in a Keynes–Schumpeter perspective
Giancarlo Bertocco, Andrea Kalajzić

Paper Summary

The article discusses how the interest rate is influenced by money in the economy. It points out limitations in Keynes' theory and introduces Schumpeter's analysis to provide a more comprehensive explanation. Schumpeter's view on the role of bank money helps distinguish a monetary economy from a real-exchange economy.

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