Some Monetarist Reflections On Business Cycles
The important place that currency and bank credit have in the economy, give us the right to indicate them as major factors in determining business cycles. Starting from Mr. R. Hawtrey's famous statement ""The trade cycle is a Purely Monetary Phenomenon"", the paper aims to offer some guidelines about the role of monetary factors in the cyclical evolution of economy, as understood by the followers of the Monetarism, and some criticism of this theory. We also proposed ourselves to search the applicability of the key Monetarist approach elements on the Romanian business cycle. We found that the Romanian monetary authorities maintain a Monetarist attitude in terms of maintaining the price level stability and using low interest rate to stimulate the economy. We also observed for the case of Romania the existence of a phenomenon which the monetarist theory did not anticipate, the in- flationary recession.
Volume (Year): 58 (2011)
Issue (Month): (november)
|Contact details of provider:|| Postal: Universitatea Al. I. Cuza; B-dul Carol I nr. 22; Iasi|
Phone: 004 0232 201070
Fax: 004 0232 217000
Web page: http://anale.feaa.uaic.ro/anale/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Thomas I. Palley, 1993. "Milton Friedman and the Monetarist Counter-Revolution: A Re-appraisal," Eastern Economic Journal, Eastern Economic Association, vol. 19(1), pages 71-81, Winter.
When requesting a correction, please mention this item's handle: RePEc:aic:journl:y:2011:v:58:p:433-440. 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: (Sireteanu Napoleon-Alexandru)
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.