Search Results for wicksellian

... in Political Economy . Fairfield: Kelley. Wicksell , Knut. [1936] 1965 . Interest and Prices: A Study of the Causes Regulating the Value of Money . New York: Kelley. Money, Equilibrium, and the Business Cycle: Hayek’s Wicksellian Dichotomy Hans-Michael Trautwein Introduction Friedrich...

... University Press Wicksell’s missing equation: a comment Takashi Negishi I Sandelin in his 1980 article’ rightly argued that we should find the missing equation and consider the value of capital as an endogenous variable in the Wicksellian model of capital...

... theories of economic growth . New York. Burmeister , E. , and S. J. Turnovsky 1972 . “Capital deepening response in an economy with heterogeneous capital goods.” American Economic Review 62 : 842 -53. Cass , David 1973 . “On the Wicksellian point-input point-output model of capital...

.... 893. 2. “The Wicksellian Tradition in Swedish Macroeconomic Theory” (Univ. of Michigan, 1958). 3. Ibid., p. 204, n.59. 4. Penningpolitik, oflentliga arbeten, subventioner och tullar som medel mot ar- betsloshet (Monetary Policy, Public Works, Subsidies, and Tariffs as Remedies...

... that this can be seen as a positive advance and not a retrograde move. 2. The only way to gain a full understanding of the basis for Keynes’s rejection of the Wicksellian theme is to emphasize the parts of The General Theory that Leijonhufvud’s interpretat ion downplays. Of particular...

... in the Wicksellian tradition, indicating that neoclassic economics in certain circumstances was perfectly capable of generating Keynesian policy conclusions. Recent evidence has come to light, however, showing that the Swedish policy of unbalanced budgets to smooth out business cycles...

... important issues, both for understanding Wicksell and for cap- ital theory in general. First, Sandelin proposes Wicksell’s affinity for con- stant returns to labor as the main reason for the openness of the model, and documents this affinity in a detailed history of the Wicksellian produc- tion...

... movements 97. A process of rising prices $8. A process of falling prices V. The rate of interest (9 9) VI. Conclusion (9 10) VII. Appendix: A critique of neo-Wicksellian monetary theory 9 1 1. The driving force of a price movement 0 12. Is statistical observation...

... deeper than Wicksell into its practical limitations. He recommended its replacement by a qualified majority of two-thirds to three-quarters instead of Wicksell’s 75 to 90 percent.3s In his paper of 1958 (see note 19 above) he argues that, although the Wicksellian requirement of large...

... equilibrium nature of the IS-LM analysis. This deals with points 2 and 3 above and directs Keynesian monetary economics back to the classical fold, as a gener- alized Wicksellian theory of the determination of the rate of interest. The letter from Robertson to Hicks provides material for a new...

... theory makes it feasible to treat the important problems, which the neo-Wicksellian school handles by a much more compli- cated apparatus. The essay does not at- tempt to solve these problems but wants to describe-for the purpose of exem- plification only-some cases...

... Neumann showed, however, that a financial economy might be as reasonable as a technical or planned economy in the stationary state. For this purpose, he constructed a system of equations for each economy, which he grounded on Wicksellian and Walrasian assumptions. Capital. Reflecting on Wicksell s...

... Stabilization Rules in a Wicksellian Model of the Cumulative Process .” Scandinavian Journal of Economics 94 , no. 3 : 509 – 18 . 970 Book Reviews Irving Fisher. Great Thinkers in Economics. By Robert W. Dimand. Cham, Switzer- land: Palgrave Macmillan, 2019. xii; 239 pp. $119.99. This book expertly...

... by the neo-Wicksellians Erik Lin- dahl, Gunnar Myrdal, and Bertil Ohlin-but also about the origins of modern macroeconomics, i.e., the years before the publication of John Maynard Keynes’ General Theory (1936). * OTTO STEIGERis Professor of Economics at the University...

... the order in which ideas are presented in the article. The diagram has been drawn by Kristina Berglund. History of Political Economy 2912 @ 1997 by Duke University Press. 202 History of Political Economy 29:2 (1997) period T period T+I Figure 1 The Wicksellian...

... of Capitalist Development . New York: Oxford University Press. Tomo , S. 1933 . On the Development of Böhm-Bawerk's Interest Theory from Fisherian to Wicksellian. Kyoto-Sangyo University. Mimeo. Comment J. E. King There is an intriguing paradox at the heart of Anthony Brewer’s article...

... Wicksellian roots. Note, however, that the basic problem remains, in that the model is again overdetermined if returns to labor and land together are not constant. One could then appeal to yet another factor, and avoid the potentially infinite regress that this suggests by arguing that a production...

... of the theory; the marginal productivity of social capital in the Wicksellian sense now becomes a somewhat obscure concept. Wicksell’s own analysis of the marginal productivity problem started from a given, stationary state; he then asked what amount of 30 History of Political Economy 12...

... Principle . London: Longman. Trautwein, H.-M. 1996 . Money, Equilibrium, and the Cycle: Hayek's Wicksellian Dichotomy. HOPE 28.1 : 27 -55. ____. 1997 . The Uses of the Pure Credit Economy. In Money, Financial Institutions, and Macroeconomics ,edited by A. Cohen, H. Hagemann, and J. Smithin, 3 -16...

... points in his discussion (pp. 354, 357, 379, 384, and notes 8 and 28), Ohlin refers implicitly to Keynes’ Treatise and compares his conclusions with those of the Treatise-which he includes in what he denotes as the “neo-Wicksellian theory.” At the same time I must emphasize that Ohlin’s...