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Knut Wicksell and Ludwig von Mises on Money, Interest and Price Dynamics

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  • Agnès Festré

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique)

Abstract

In a first section, we shall discuss the main issues that divided Wicksell and Mises during a debate that took place between them in 1914. We will first analyze how the two authors conceived the link between the "commodity market" and the "money market" as well as their respective stance on the question of the independence of the "loan rate of interest" from the "natural rate of interest." Then, in a second section, we shall analyze how those differences did affect Wicksell and Mises' theories of economic dynamics.

Suggested Citation

  • Agnès Festré, 2006. "Knut Wicksell and Ludwig von Mises on Money, Interest and Price Dynamics," Post-Print halshs-00272399, HAL.
    • Handle: RePEc:hal:journl:halshs-00272399
    DOI: 10.1080/10427710600857856
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00272399
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    References listed on IDEAS

    as
    1. Mauro Boianovsky & Hans-Michael Trautwein, 2001. "An Early Manuscript by Knut Wicksell on the Bank Rate of Interest," History of Political Economy, Duke University Press, vol. 33(3), pages 485-508, Fall.
    2. repec:ucp:bkecon:9780226320649 is not listed on IDEAS
    3. Agnès Festré, 2002. "Money, Banking and Dynamics: Two Wicksellian Routes from Mises to Hayek and Schumpeter," American Journal of Economics and Sociology, Wiley Blackwell, vol. 61(2), pages 439-480, April.
    4. Agnès Festré, 2003. "Knowledge and individual behaviour in the Austrian tradition of business cycles: von Mises vs. Hayek," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 11(1), pages 13-45.
    5. Hicks, J. R., 1979. "Critical Essays in Monetary Theory," OUP Catalogue, Oxford University Press, number 9780198284239, Decembrie.
    6. Claes-Henric Siven, 1997. "Capital Theory and Equilibrium Method in Wicksell's Cumulative Process," History of Political Economy, Duke University Press, vol. 29(2), pages 201-217, Summer.
    7. Hicks, J. R., 1975. "Value and Capital: An Inquiry into some Fundamental Principles of Economic Theory," OUP Catalogue, Oxford University Press, edition 2, number 9780198282693, Decembrie.
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    Cited by:

    1. Faugere, Christophe, 2010. "Macrofoundations for A (Near) 2% Inflation Target," MPRA Paper 23491, University Library of Munich, Germany, revised 25 Jun 2010.
    2. Farkas, Beáta, 2016. "A várakozások szerepe a közgazdasági gondolkodásban [Expectations in thinking on economics]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 1177-1191.

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