Some Methodological Issues in the Theory of Speculation

Victoria Chick

Chapter 11 in On Money, Method and Keynes, 1992, pp 181-192 from Palgrave Macmillan

Abstract: Abstract The speculative demand for money and securities which formed such an important part of Keynes’s General Theory (1936) has not featured in recent summaries of monetary theory, even those by post-Keynesians (Moore, 1978; Rousseas, 1986; Arestis, 1988). Yet who could doubt the importance of speculation in foreign exchange or the significance of speculation in the 1986–7 stock market boom and its subsequent (October 1987) crash.

Keywords: Interest Rate; Market Participant; Rational Expectation; Capital Gain; Rational Expectation Model (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-21935-3_11

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