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Journal Article
History of Political Economy (1991) 23 (3): 457–480.
Published: 01 September 1991
... 0 1991 by Duke University Press CCC 0018-2702/91/$1 .SO John Fullarton’s Law of Reflux and Central Bank Policy Neil T. Skaggs Historians of economic thought recognize John Fullarton (1780- 1849) as one of the major members of the English...
Journal Article
History of Political Economy (1992) 24 (4): 867–894.
Published: 01 November 1992
... of Institutional and Theoretical Economics 145 . 3 ( September ): 489 -507. Skaggs , Neil T. 1991 . John Fullarton's Law of Reflux and Central Bank Policy. HOPE 23 . 3 ( Fall ): 457 -80. Smith , Adam. 1937 . The Wealth of Nations . edited by Edwin Cannan. New York: Modern Library...
Journal Article
History of Political Economy (2012) 44 (4): 595–618.
Published: 01 November 2012
...Laurent Le Maux This article builds a “matrix of reflux” of all the channels of reflux of demand debts described by the banking school. It follows that the banking school’s law of reflux in general is different from the antibullionist real bills doctrine and more complete than a description...
Journal Article
History of Political Economy (1996) 28 (2): 313–315.
Published: 01 June 1996
...Neil T. Skaggs Roy Green. New York: St. Martin's, 1992. 271 pp. $79.95. Copyright © 1996 by Duke University Press 1996 References Glasner , David. 1992 . The Real-Bills Doctrine in the Light of the Law of Reflux. HOPE 24 . 4 : 867 -94 Skaggs , Neil T. 1991 . John...
Journal Article
History of Political Economy (1999) 31 (2): 361–391.
Published: 01 June 1999
... . 1992 . The Real-Bills Doctrine in the Light of the Law of Reflux. HOPE 24 . 4 : 867 -94. Gomes , Leonard . 1993 . The International Adjustment Mechanism: From the Gold Standard to the EMS . New York: St. Martin's Press. Green , Roy . 1992 . Classical Theories of Money, Output...
Journal Article
History of Political Economy (1989) 21 (2): 201–229.
Published: 01 June 1989
...-dichotomizing the determination of relative prices and the price level,, ignoring the real-balance effect, and belief in Say’s Law’ and the Law of Reflux-can be validly deduced from a model of a competitively produced convertible money. I also suggested that such a model could illuminate several...
Journal Article
History of Political Economy (1994) 26 (2): 221–238.
Published: 01 June 1994
... overissue by any single bank. They ex- plained in detail the operation of the interbank clearing mechanism that would bring about a reflux of excess notes on the issuer” (1984, 86). This same idea is also discussed by Selgin as “the principle of adverse clearings” (1988,40). He shows that under...
Journal Article
History of Political Economy (1994) 26 (3): 423–441.
Published: 01 September 1994
... upon adher- ence to “real bills” as the check against overissue. Others, including Blaug (1985) and Laidler (1981), argue that Smith felt that bankers do not always follow their self-interest, in which case, reflux is required as an overriding check. Still others maintain that Smith...
Journal Article
History of Political Economy (1992) 24 (1): 264–267.
Published: 01 March 1992
... of the fallacious version of the doctrine, but such a charge withers when confronted with a close reading of Fullarton’s work, as I have shown elsewhere (Skaggs 1991). Arnon seems not to understand the major difference between the Law of Reflux, adhered to by both Tooke and Fullarton, and the real bills...
Journal Article
History of Political Economy (1999) 31 (1): 79–107.
Published: 01 March 1999
... Classical Controversies. HOPE 21 . 1 : 201 -29. Glasner , D. 1992 . The Real-Bills Doctrine in the Light of the Law of Reflux. HOPE 24 . 4 : 867 -94. Hayek , F. A. von. [1976] 1978 . The Denationalization of Money . 2d ed. London: Institute of Economic Affairs. Hicks , J...
Journal Article
History of Political Economy (2000) 32 (1): 39–60.
Published: 01 March 2000
.... ____. 1989b . On Some Classical Monetary Controversies. HOPE 21.2 : 201 -29. ____. 1992 . The Real-Bills Doctrine in the Light of the Law of Reflux. HOPE 24.4 : 867 -94. Hume, D. 1955 . Writings on Economics . Edited by E. Rotwein. Madison: University of Wisconsin Press. Laidler, D. [1972...
Journal Article
History of Political Economy (1992) 24 (1): 267–268.
Published: 01 March 1992
... Century: Was Thomas Tooke Right? Explorations in Economic History 40161-67. Skaggs, Neil T. 1991. John Fullarton’s Law of Reflux and Central Bank Policy, HOPE 23.3~457-80. Neil T. Skaggs, Illinois State University Alfred Marshall’s Mission. By David...
Journal Article
History of Political Economy (2012) 44 (3): 451–469.
Published: 01 September 2012
... and the United States . Chicago : University of Chicago Press . Skaggs Neil T. 1991 . “ John Fullarton’s Law of Reflux and Central Bank Policy .” HOPE 23 ( 3 ): 457 – 80 . ———. 1995 . “ Henry Thornton and the Development of Classical Monetary Economics .” Canadian Journal of Economics...
Journal Article
History of Political Economy (2000) 32 (Suppl_1): 257–288.
Published: 01 December 2000
Journal Article
History of Political Economy (1984) 16 (2): 311–326.
Published: 01 June 1984
...) is partially accepting 3 16 History of Political Economy 16:2 (1984) Gurney’s argument that any additional supply of notes by the Bank would find its way back to the Bank, which “would lock them in their tills.” This idea developed later into the famous Law of Reflux. In this, Tooke was arguing...
Journal Article
History of Political Economy (1987) 19 (2): 173–182.
Published: 01 June 1987
... had spent on encour- aging empirical research in Europe came to intellectual fruition in the 1940s, but the harvesting took place in the United States. The reflux of the empirical orientation to economics came across the Atlantic with an intel- lectual vigor that was to transform...
Journal Article
History of Political Economy (1990) 22 (1): 125–136.
Published: 01 March 1990
... is demanded, the excess money is “regorged,” Steuart’s term for what later became known as the law of reflux. When the money is “regorged,” the property used as security for the loans by which the money was created is “consolidated.” His analysis is there- fore as follows. Steuart had argued...
Journal Article
History of Political Economy (1994) 26 (4): 539–567.
Published: 01 November 1994
Journal Article
History of Political Economy (1989) 21 (1): 77–90.
Published: 01 March 1989
... the doctrine reappeared under the label of the Law of Reflux. It was used by the Banking school, most elegantly by Fullerton (1844), to argue that an overissue of currency re- sulting in a gold outflow could not occur. There is one other important point to note. The arguments made in support...
Journal Article
History of Political Economy (1977) 9 (4): 476–489.
Published: 01 November 1977
... as “money The banking school added “the law of reflux” to the antibullionist “real bills” doctrine. This supplementary “law” was alleged to keep the supply of bank notes from exceeding the demand for them even if the “real bills” criterion of bank note issue was violated (Humphrey 1970, p. 5...