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A Wicksellian Approach Over an Active Monetary Policy

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  • Liparã Daniel

    () („Alexandru Ioan Cuza” University of Iaºi, Doctoral School of Economics)

Abstract

Out of the two types of monetary policy interventions – along with passive ones – active interventions are bettter used in order to increase the performances of a real economy. This was the main field of focus for the swedish economist Knut Wicksell. The aim of this paper is to present a critical point of view regarding the quantity theory of money and the rate of interest – as the most important monetary policy instrument – and their implications in macroeconomic stability. Wicksell contributed to the development of monetary policy by updating the old style fashion quantity theory of money, emphasising its strong points and especially its limits.

Suggested Citation

  • Liparã Daniel, 2011. "A Wicksellian Approach Over an Active Monetary Policy," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 723-727, May.
  • Handle: RePEc:ovi:oviste:v:xi:y:2011:i:9:p:723-727
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    Keywords

    monetary policy; money; price stability; interest rate; economic growth;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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