The dichotomy once again

Frank Hahn

The European Journal of the History of Economic Thought, 2002, vol. 9, issue 2, 260-267

Abstract: Patinkin's contribution to monetary theory is discussed with particular attention given to his 'dichotomy argument'. It is shown that he is perfectly correct, but there is a confusion in the literature between the 'neutrality proposition' and the independence of equilibrium of the quantity of money. I then turn to homogeneity and its importance, and stress that the homogeneity applies to current as well as expected prices. I am rather unkind to mathematizing the double coincidence of wants argument, since it seems very obvious and the mathematics is exceptionally ugly. The paper concludes with remarks on monetary policy and the connection between the theory of money and that of information.

Keywords: Dichotomy; General Equilibrium Theory; Homogeneity; Transaction Demand (search for similar items in EconPapers)
Date: 2002
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/09672560210130701 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:eujhet:v:9:y:2002:i:2:p:260-267

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/REJH20

DOI: 10.1080/09672560210130701

Access Statistics for this article

The European Journal of the History of Economic Thought is currently edited by José Luís Cardoso

More articles in The European Journal of the History of Economic Thought from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().