Alternative theories of the rate of interest
构建了一个分析利率决定理论的通用框架，扩展了鲍丁的资产方法，用于考察新古典、货币主义、资产组合平衡和水平主义等利率理论，并调和了流动性偏好理论与内生货币方法。
This article develops a general framework for the analysis of alternative theories concerning the determination of interest rates. The framework extends Kenneth Boulding's asset approach in which Keynesian liquidity preference theory is interpreted as a theory of asset valuation. A model of asset price determination is used to examine neoclassical, monetarist, portfolio balance, and horizontal theories of interest rates. Finally, the article uses the framework to reconcile liquidity preference theory with an endogenous money approach. It is argued that endogenous money, liquidity preference, and the expenditure multiplier are the three essential and interrelated principles of the Keynesian approach. Copyright 1992 by Oxford University Press.