|
on German Papers |
Issue of 2014‒08‒20
seven papers chosen by Roberto Cruccolini Ludwig-Maximilians-Universität München |
By: | Jonathan Öztunc; Steffen Roth |
Date: | 2014–04 |
URL: | http://d.repec.org/n?u=RePEc:kln:iwpord:04/14&r=ger |
By: | Oliver Arentz; |
Date: | 2014–01 |
URL: | http://d.repec.org/n?u=RePEc:kln:iwpord:01/14&r=ger |
By: | Juergen B. Donges; |
Date: | 2014–06 |
URL: | http://d.repec.org/n?u=RePEc:kln:iwpord:06/14&r=ger |
By: | Adrian Amelung; |
Date: | 2014–02 |
URL: | http://d.repec.org/n?u=RePEc:kln:iwpord:02/14&r=ger |
By: | Adolph, C.; Schiereck, D. |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:61935&r=ger |
By: | Growitsch, Christian (Energiewirtschaftliches Institut an der Universitaet zu Koeln); Meier, Helena (Energiewirtschaftliches Institut an der Universitaet zu Koeln); Schleich, Sebastian (Energiewirtschaftliches Institut an der Universitaet zu Koeln) |
Abstract: | The promotion of renewable energies in Germany by the Erneuerbare Energien Gesetz (EEG, Renewable Energy Act) leads to various distributional effects. |
Date: | 2014–08–12 |
URL: | http://d.repec.org/n?u=RePEc:ris:ewikln:2014_008&r=ger |
By: | Peter Spahn |
Abstract: | Böhm-Bawerk defines the rate of interest as the ratio of intertemporal goods prices, but cannot show the emergence of interest as a financial market price. The alleged efficiency ofroundabout production methods is ill-suited to derive a uniform rate of return of capital. Time preference may affect the allocation of income flows and the decision to build up individual wealth, but credit supply follows from a portfolio decision on the structure of the stock of assets. Here, liquidity preference and monetary policy operations have a decisive influence, whereas changes of productivity and time preference are poor predictors of even the sign of market interest changes. A 'natural' rate of interest, determined by 'deep' parameters of capital, production and time, does not exist; it turns out to be a mere estimated value of the bank rate, as a proxy for goods market equilibrium conditions. |
Keywords: | interest rate theory, capital goods and capital value, time preference, liquidity preference |
JEL: | B13 E43 |
Date: | 2014–04 |
URL: | http://d.repec.org/n?u=RePEc:rmn:wpaper:201404&r=ger |