Introduction to the Theory of InterestThis title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1959. |
Contents
THE RELEVANCE AND NATURE | 1 |
BOEHMBAWERKS REVIEW AND CRITICISM OF EARLIER | 25 |
THE THEORY OF BOEHMBAWERK | 36 |
IRVING FISHERS THEORY OF INTEREST | 47 |
OTHER NONMONETARY THEORIES OF INTEREST | 72 |
THE DESIRABILITY OF INTEREST | 95 |
SUMMARY | 108 |
MONEY RATES OWNRATES AND REAL RATES | 119 |
THE KEYNESIAN SOLUTION | 259 |
A NOTE ON TWO STRONG MODELS | 268 |
Conclusions regarding monetary and nonmonetary | 280 |
INTRODUCTION TO RATE STRUCTURE | 287 |
The neoclassical theory | 294 |
DERIVATION OF RATE STRUCTURE FROM YIELD CURVES | 300 |
Equality of effective yields on securities of diverse | 307 |
When yields change what is the relation between the size | 316 |
SKETCH OF LOANABLEFUNDS AND LIQUIDITYPREFER | 155 |
Liquiditypreference theory | 163 |
The Keynesian L curve | 169 |
Three simple models | 176 |
Concepts of saving in relation to the theory of interest | 187 |
Algebraic presentation | 201 |
LIQUIDITYPREFERENCE THEORY COMPARED WITH | 203 |
An algebraic restatement | 214 |
Demand and supply of securities versus supply and demand | 222 |
Summary and conclusions | 232 |
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Common terms and phrases
adjustment analysis arbitrage assets assumed assumption balances behavior bonds capital cent classical column conclusion consumption demand for money derived described determined discussion Economic effects equal equation equilibrium Fisher's flow full employment function funds future given hoards horizontal Ibid implies increase interest rates interest theory intersection J. M. Keynes Keynes Keynesian L₁ labor level of income liquidity-preference theory LM curve loanable loanable-funds theory long rates maturity ment money illusion money rate money supply money wages neoclassical theory nonmonetary theories own-rate Patinkin perfect-foresight model period price changes price level production quantity of money rate of interest rate of return rate structure real wages realized income reason reference relation represents result rise Robertsonian saving and investment Schumpeter shift shown shows SI-LM slope stock and flow structure of rates suggest supply and demand surface Swedish theory of interest tion underemployment equilibrium variables yield curve yield to maturity