Calvin's Restrictions on Interest

Guidelines for the Credit Crisis

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Abstract

Calvin’s view on the legitimacy of interest has had a great impact on the economic development of Western society. Although Calvin took a fundamentally positive attitude to interest, he also proposed several restrictions on the charging of interest. In this article, we investigate the relevance of these restrictions to the current credit crisis. We find that each of them provides a relevant interpretation of what went wrong in the build up of the credit crisis and gives directions to improve policies of banks and governments as well.
Original languageEnglish
Place of PublicationTilburg
PublisherMacroeconomics
Number of pages22
Volume2009-90
Publication statusPublished - 2009

Publication series

NameCentER Discussion Paper
Volume2009-90

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Credit crisis
Economic development
Legitimacy
Government

Keywords

  • Banking sector
  • Bible
  • bonus system
  • Calvin
  • credit crisis
  • golden rule
  • reciprocity
  • government regulation
  • restriction on charging interest

Cite this

Graafland, J. J. (2009). Calvin's Restrictions on Interest: Guidelines for the Credit Crisis. (CentER Discussion Paper; Vol. 2009-90). Tilburg: Macroeconomics.
Graafland, J.J. / Calvin's Restrictions on Interest : Guidelines for the Credit Crisis. Tilburg : Macroeconomics, 2009. (CentER Discussion Paper).
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Graafland, JJ 2009 'Calvin's Restrictions on Interest: Guidelines for the Credit Crisis' CentER Discussion Paper, vol. 2009-90, Macroeconomics, Tilburg.

Calvin's Restrictions on Interest : Guidelines for the Credit Crisis. / Graafland, J.J.

Tilburg : Macroeconomics, 2009. (CentER Discussion Paper; Vol. 2009-90).

Research output: Working paperDiscussion paperOther research output

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KW - bonus system

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KW - golden rule

KW - reciprocity

KW - government regulation

KW - restriction on charging interest

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Graafland JJ. Calvin's Restrictions on Interest: Guidelines for the Credit Crisis. Tilburg: Macroeconomics. 2009. (CentER Discussion Paper).