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The Humean Origin of the Contemporary Monetary Approach to the Balance of Payments

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  • Dietrich K. Fausten

Abstract

I. Introduction, 655.—II. The essence of the modern monetary approach, 657.—III. The price-specie-flow mechanism of David Hume, 663.—IV. Concluding observations, 668.

Suggested Citation

  • Dietrich K. Fausten, 1979. "The Humean Origin of the Contemporary Monetary Approach to the Balance of Payments," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 93(4), pages 655-673.
    • Handle: RePEc:oup:qjecon:v:93:y:1979:i:4:p:655-673.
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    File URL: http://hdl.handle.net/10.2307/1884474
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    Cited by:

    1. Laurent Le Maux, 2014. "Cantillon And Hume On Money And Banking: The Foundations Of Two Theoretical Traditions," Journal of Economic Surveys, Wiley Blackwell, vol. 28(5), pages 956-970, December.
    2. Carl Wennerlind, 2005. "David Hume's Monetary Theory Revisited: Was He Really a Quantity Theorist and an Inflationist?," Journal of Political Economy, University of Chicago Press, vol. 113(1), pages 223-252, February.
    3. Michael R. Darby & James R. Lothian, 1983. "Conclusions on the International Transmission of Inflation," NBER Chapters, in: The International Transmission of Inflation, pages 491-524, National Bureau of Economic Research, Inc.
    4. Michael R. Darby, 1983. "Monetary Policy in the Large Open Economy," NBER Working Papers 1127, National Bureau of Economic Research, Inc.
    5. Dennis O. Flynn, 1982. "Gresham's Law and the Modern Theory of the Demand for Money," Eastern Economic Journal, Eastern Economic Association, vol. 8(3), pages 219-235, Jul-Sep.
    6. Romain Veyrune, 2004. "Les caisses d’émission modernes sont-elles orthodoxes ?," Revue d'Économie Financière, Programme National Persée, vol. 75(2), pages 71-84.
    7. Cesarano, Filippo, 1998. "Hume's specie-flow mechanism and classical monetary theory: An alternative interpretation," Journal of International Economics, Elsevier, vol. 45(1), pages 173-186, June.
    8. Tuck Cheong Tang, 2018. "Financial Sector and Aggregate Import Demand: A General Equilibrium Perspective with Japan Data," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 14(2), pages 45-64.

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