Marshall’s Theory of Money and the Trade Cycle

Robert Bigg

Chapter 4 in Cambridge and the Monetary Theory of Production, 1990, pp 17-33 from Palgrave Macmillan

Abstract: Abstract This chapter reviews Marshall’s monetary theory under the two main headings of the quantity theory and the trade cycle. This is in preparation for the following chapter which considers the Marshallian research programme. The discussion is concerned only with the domestic economy, and no consideration is given to the international aspects of the theory; for example the determination of exchange rates, the effects of balance of payments disequilibria, and fluctuations in international activity and credit.

Keywords: Interest Rate; Trade Cycle; Price Level; Real Wage; Trade Credit (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37121-7_4

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DOI: 10.1057/9780230371217_4

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