National Bureau of Economic Research
NBER: Avoiding and/or escaping the zero lower bound on the nominal rate of interest by paying negative interest on currency

Subject: Avoiding and/or escaping the zero lower bound on the nominal rate of interest by paying negative interest on currency
From: willembuiter (willembuiter@whsmithnet.co.uk)
Date: Tue Jul 16 2002 - 16:40:56 EDT

Colleagues,

Jointly with Nikolaos Panigirtzoglou, I have recently completed the Nth (and we hope final) revision of a paper first launched in 1999 QI, now titled:
Overcoming the Zero Bound on Nominal Interest Rates with Negative Interest on Currency

Gesell's Solution

. For an abstract of the paper, click http://www.nber.org/~wbuiter/liqnab.pdf. For the complete paper, click http://www.nber.org/~wbuiter/liqnew.pdf.

Willem Buiter