The high price of money : an interpretation of world interest rates
Author(s)
Bibliographic Information
The high price of money : an interpretation of world interest rates
Clarendon Press, 1996
- Other Title
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Alto prezzo del danaro
- Uniform Title
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Alto prezzo del danaro
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Note
Translation of: L'alto prezzo del danaro
Includes bibliographical references
Description and Table of Contents
Description
The argument of this monograph is that, contrary to prevailing opinion, high interest rates are not a fact of economic life. The authors argue that this is a conventional assumption rooted in the expectations of financial markets. World economic evidence from the last 20 years indicates that conscious policies are, in fact, capable of altering interest rates in the short term, without heavy costs. Such policies must be devised and pursued if we are to come out of recession.
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