Zero Nominal Interest Rates: Revision history

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5 April 2025

  • curprev 09:1909:19, 5 April 2025‎ Mbauwens talk contribs‎ 3,433 bytes +3,433‎ Created page with "=Description= Jordan MacLeod: "In his seminal 1969 work, "The Optimum Quantity of Money," Friedman proposed what would become known as the "Friedman rule" – a policy setting nominal interest rates to zero. This proposal stemmed from his recognition that positive interest rates create an opportunity cost for holding money, leading economic actors to economize on cash balances below the socially optimal level. Since producing money costs essentially nothing at the marg..."
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