Gustav Cassel

Lawrence H. Officer ()
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Lawrence H. Officer: University of Illinois at Chicago

Chapter Chapter 2 in Essays in Economic History, 2022, pp 15-41 from Springer

Abstract: Abstract From the standpoint of the history of economic thought, Gustav Cassel was the greatest proponent and expositor of purchasing power parity (PPP). No predecessor of Cassel, no contemporary, no later author implanted the PPP theory so broadly and firmly in the economics profession. This chapter presents a thorough discussion of Cassel’s role in the literature. Both his theory and his policy prescriptions are covered.

Keywords: Cassel; Purchasing power parity; Quantity theory of money; Law of one price; Price level; Absolute PPP; Relative PPP; Exchange rate; Neutrality theorem (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-95925-8_2

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DOI: 10.1007/978-3-030-95925-8_2

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