The neutral rate of interest and a new monetary policy rule

H. Atesoglu

Journal of Post Keynesian Economics, 2007, vol. 29, issue 4, 689-697

Abstract: In this paper, a new monetary policy rule is introduced. The proposed rule is based on Keynes's neutral rate of interest idea, a concept defined in the General Theory. The primary goal of the proposed rule is to ensure that the macroeconomy produces an output equal to its full-employment level. Monetary policy implied by the proposed rule is compared with the actual monetary policy in recent years.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:29:y:2007:i:4:p:689-697

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DOI: 10.2753/PKE0160-3477290408

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