Post #15 — Prof. Richard A. Werner Official Telegram (@WernerEconomics)

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Prof. Richard A. Werner Official Telegram

30 Mar 2021, 21:53

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Virtually all economics since Ricardo have been based on equilibrium paradigm. But, do lower interest rates lead to higher economic growth? The 1st empirical test of all classical, neoclassical, Keynesian, post-Keynesian, and monetary economics:

https://www.sciencedirect.com/science/article/pii/S0921800916307510

Reconsidering Monetary Policy: An Empirical Examination of the Relationship Between Interest Rates and Nominal GDP Growth in the U.S., U.K., Germany and Japan

The rate of interest – the price of money – is said to be a key policy tool. Economics has in general emphasised prices. This theoretical bias results…