2014
DOI: 10.15604/ejef.2014.02.03.001
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The Optimal Interest Rates and the Current Interest Rate System

Abstract: The paper discusses the current target interest rate, which is closed to zero with the new experiment of quantitative easing since 2009 and has reduced the rate of return and the income and has made the real savings rate negative. This target rate has not reduced unemployment and has not improved growth (it is not optimal), but has increased the debt of individuals and the low taxes on businesses have magnified the budget deficits and the national debt. People were borrowing the present value of their uncertai… Show more

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References 14 publications
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