@article{Bloise:269721,
      recid = {269721},
      author = {Bloise, Gaetano and Polemarchakis, Herakles},
      title = {An argument for positive nominal interest},
      address = {2015-12-30},
      number = {2068-2018-1545},
      series = {WERP 1104},
      pages = {26},
      year = {2015},
      abstract = {In a dynamic economy, money provides liquidity as a medium  of exchange. A central bank that sets the nominal rate of  interest and distributes its profit to shareholders as  dividends is traded in the asset market. A nominal rates of  interest that tend to zero, but do not vanish, eliminate  equilibrium allocations that do not converge to a Pareto  optimal allocation.},
      url = {http://ageconsearch.umn.edu/record/269721},
      doi = {https://doi.org/10.22004/ag.econ.269721},
}