Some Monetarist Reflections On Business Cycles
Mihaela Ifrim ()
Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), 2011, vol. 58, 433-440
The important place that currency and bank credit have in the economy, give us the right to indicate them as major factors in determining business cycles. Starting from Mr. R. Hawtrey's famous statement ""The trade cycle is a Purely Monetary Phenomenon"", the paper aims to offer some guidelines about the role of monetary factors in the cyclical evolution of economy, as understood by the followers of the Monetarism, and some criticism of this theory. We also proposed ourselves to search the applicability of the key Monetarist approach elements on the Romanian business cycle. We found that the Romanian monetary authorities maintain a Monetarist attitude in terms of maintaining the price level stability and using low interest rate to stimulate the economy. We also observed for the case of Romania the existence of a phenomenon which the monetarist theory did not anticipate, the in- flationary recession.
Keywords: business cycle; money; credit; monetarism (search for similar items in EconPapers)
JEL-codes: E31 E32 E51 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:aic:journl:y:2011:v:58:p:433-440
Access Statistics for this article
More articles in Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015) from Alexandru Ioan Cuza University, Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Sireteanu Napoleon-Alexandru ().