The Wicksell Connection, The Quantity Theory and Keynes
In the business cycle literature of the inter-war years, the role of the interest rate in coordinating, or failing to co-ordinate, agents' choices about the allocation of resources over time was an important theme, to which Axel Leijonhufvud (1981) gave the name "the Wicksell connection". The theme takes on particular importance in an economy in which such co-ordination failure produces output fluctuations, because it may involve a fundamental inability on the part of market mechanisms to induce the price responses needed to restore full employment once the economy is moved away from it.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1997|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, Reference Centre, Social Science Centre, University of Western Ontario, London, Ontario, Canada N6A 5C2|
Phone: 519-661-2111 Ext.85244
Web page: http://economics.uwo.ca/research/research_papers/department_working_papers.html
When requesting a correction, please mention this item's handle: RePEc:uwo:uwowop:9708. 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: ()
If references are entirely missing, you can add them using this form.