The first part of the paper surveys the discussion of monetary equilibrium by Wicksell, Lindahl, Myrdal, Ohlin and Palander. In the second part a number of analytical aspects of monetary equilibrium are discussed: The formulation of the first equilibrium condition in terms of prices instead of in terms of quantities; The interpretation of the second equilibrium condition as equality between saving and investments; What was the exact interpretation of the rate of interest as a monetary phenomenon; The economic interpretation of a gap between the natural and the loan rate of interest; and the use of equilibrium and disequilibrium analysis.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by Stockholm University, Department of Economics in its series Research Papers in Economics with number
2005:7.
Length: 53 pages Date of creation: 07 Sep 2005 Date of revision: Handle: RePEc:hhs:sunrpe:2005_0007
Contact details of provider: Postal: Department of Economics, Stockholm, S-106 91 Stockholm, Sweden Phone: +46 8 16 20 00 Fax: +46 8 16 14 25 Email: Web page: http://www.ne.su.se/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Sten Nyberg).
Find related papers by JEL classification: B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics B30 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - General E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
This paper has been announced in the following NEP Reports: