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Monetary Equilbrium




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.

Suggested Citation

  • Siven, Claes-Henric, 2005. "Monetary Equilbrium," Research Papers in Economics 2005:7, Stockholm University, Department of Economics.
  • Handle: RePEc:hhs:sunrpe:2005_0007

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    References listed on IDEAS

    1. Richardson, Martin, 1999. "Trade and Competition Policies: Concordia Discors?," Oxford Economic Papers, Oxford University Press, vol. 51(4), pages 649-664, October.
    2. Grossman, Gene M & Helpman, Elhanan, 1994. "Protection for Sale," American Economic Review, American Economic Association, vol. 84(4), pages 833-850, September.
    3. Jonathan Eaton & Gene M. Grossman, 1986. "Optimal Trade and Industrial Policy Under Oligopoly," The Quarterly Journal of Economics, Oxford University Press, vol. 101(2), pages 383-406.
    4. Barros, Pedro P. & Cabral, Luis, 1994. "Merger policy in open economies," European Economic Review, Elsevier, vol. 38(5), pages 1041-1055, May.
    5. Damien NEVEN & Thomas VON UNGERN-STERNBERG, 1996. "Swiss Competition Policy in the Last Decade," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 9611, Université de Lausanne, Faculté des HEC, DEEP.
    6. Keith Head & John Ries, 1997. "International Mergers and Welfare under Decentralized Competition Policy," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 1104-1123, November.
    7. Dixit, Avinash, 1984. "International Trade Policy for Oligopolistic Industries," Economic Journal, Royal Economic Society, vol. 94(376a), pages 1-16, Supplemen.
    8. Mark Rysman, 2000. "Competition Policy as Strategic Trade," Papers 0100, Boston University - Industry Studies Programme.
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    More about this item


    Monetary equilibrium; Monetary theory; Wicksell; Myrdal;

    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 Economic Thought: Individuals - - - General
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General

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