Advanced Search
MyIDEAS: Login

Keynes, the Liquidity Trap and the Gold Standard: A Possible Application of the Rational Expectations Hypothesis

Contents:

Author Info

  • Roberts, Mark A
Registered author(s):

    Abstract

    It is shown that Keynes's analysis of the liquidity trap phenomenon in the General Theory is consistent with the rational expectations hypothesis, where future monetary policy is believed to be constrained by the gold standard system. This interpretation is also consistent with the view, in B. W. Bateman (1987), that Keynes's later methodological position had evolved significantly since his early work, the Treatise on Probability. It appears that Keynes did not think the relative frequency concept of probability, underlying the rational expectations hypothesis, to be inappropriate where the data were structurally stable or 'homogeneous through time.' Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Article provided by University of Manchester in its journal The Manchester School of Economic & Social Studies.

    Volume (Year): 63 (1995)
    Issue (Month): 1 (March)
    Pages: 82-92

    as in new window
    Handle: RePEc:bla:manch2:v:63:y:1995:i:1:p:82-92

    Contact details of provider:
    Postal: Manchester M13 9PL
    Phone: (0)161 275 4868
    Fax: (0)161 275 4812
    Web page: http://www.socialsciences.manchester.ac.uk/disciplines/economics/
    More information through EDIRC

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:bla:manch2:v:63:y:1995:i:1:p:82-92. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.