Recent Literature on Interest (1884-1899). A Supplement to Capital and Interest.

Recent NICE guidance of interest to surgeons

Quality standards are a set of statements about measurable components of high quality and cost effective care. They are based on consideration of effectiveness, patient safety and patient experience. Quality standards are designed to be aspirational but achievable. Commissioners will use them in setting contracts. The quality standard on colorectal cancer was published in August 2012 and has ei...

Money, Interest, Prices and Capital Flowsf

In this paper we develop the first search-theoretic monetary model of a two-country global economy. We show the connection between deep monetary frictions (i.e. search and matching frictions), capital holdup externalities, and the realization of an endogenous departure from the “excess smoothness” problem in the real exchange rate found in standard models. Using this alternative monetary model,...

Making Interest-free Banking System More Efficient with Regards to Interest Rate

Irreversible capital accumulation under interest rate uncertainty

We consider the optimal sequential irreversible investment policy of a value maximizing firm facing decreasing returns to scale and interest rate uncertainty. We characterize the optimal accumulation policy and its value for a broad class of interest rate models by focusing on the marginal investment decision and deriving the marginal value of capital. We also state a set of conditions under wh...

Do High Interest Rates Stem Capital Outflows?

Conventional wisdom posits that high interest rates stem capital flight. But if higher interest rates increase the probability of debt default, they might have anti-orthodox effects. This note develops a framework for evaluating conditions under which this might occur.  2000 Elsevier Science S.A. All rights reserved.