Le taux d'intérêt: prix du temps, rançon de la patience

Louis Daumas and François Soleiman

Regards croisés sur l'économie, 2021, vol. n° 29, issue 2, 79-84

Abstract: Interest rates are the prices at which an agent accepts to lend money to another agent instead of spending this money immediately. It is what this other agent pays to fund an expense that he/she could only afford later. As a result, interest rates allow for a reconciliation of two relations to time: patience of the lenders and impatience of the borrowers. This article proposes a simple formalism illustrating how an economic variable can be interpreted as the expression of a relationship to time.

Date: 2021
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