Zum Konzept der Liquiditätsfalle

In this book, the current problem of low key interest rates worldwide is addressed and the concept of the liquidity trap dating back to John M. Keynes is transferred to modern macroeconomics. Three simple dynamic models are used to investigate whether the liquidity trap is a permanent or temporary phenomenon, whether this phenomenon is stable or unstable, and which assumptions and parameters influence the answers to the first two questions. Above all, a critical examination of the prevailing view of the liquidity trap in monetary theory and monetary policy is offered. The most important results of the predominantly algebraic analysis are illustrated by a variety of graphical tools.