Money and Interest in an Atypical Neoclassical Economist: Gustavo Del Vecchio

Gianfranco Tusset
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Gianfranco Tusset: Università di Padova - Dipartimento di Scienze Economiche «Marco Fanno»

Il Pensiero Economico Italiano, 2004, vol. 12, issue 1, 99-112

Abstract: Gustavo Del Vecchio has been esteemed as a follower or, better, an innovator of Walras’s statements incorporating money in a general equilibrium framework. However, although the static monetary theory he proposed in 1909 represents the most appreciated section of his work, his less known dynamic monetary theory is worthy of attention. The latter emphasises the role of the interest rate in determining the stock of circulating goods and services and, consequently, the demand for money. Moreover, by trying to explain the monetary service on such a basis, Del Vecchio finally introduces uncertainty and expectations in his monetary analysis.

Keywords: Gustavo Del Vecchio; monetary theory; rate of interest (Gustavo Del Vecchio; teoria monetaria; tasso di interesse) (search for similar items in EconPapers)
JEL-codes: B13 B31 E41 E43 (search for similar items in EconPapers)
Date: 2004
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