publ-mit-podpubl-mit-podSpahn, Peter2024-04-082024-04-082018-03-052018https://hohpublica.uni-hohenheim.de/handle/123456789/6247In recent years, various "unconventional" views have been advanced that promise to offer new analytical insights and policy approaches that are suited to control the value of money, particularly in a constellation of low growth and unemployment. Whereas Forward Guidance attempts to decrease the real interest rate by low nominal rates and by creating excessive inflationary expectations, the Neo-Fisherian approach suggests to increase nominal rates immediately to the long-run equilibrium value that corresponds to the inflation target. The Fiscal Theory of the Price Level believes that goods prices jump to a level that validates the long-run sustainability condition of government debt. All three views are criticized for analytical and empirical reasons.engInterest rate policyZero lower boundLow-growth equilibrium330InflationGeldtheorieWorkingPaper50038536Xurn:nbn:de:bsz:100-opus-14643