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Monetary Equilbrium

Claes-Henric Siven ()
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Claes-Henric Siven: Dept. of Economics, Stockholm University, Postal: Department of Economics, Stockholm University, S-106 91 Stockholm, Sweden, http://people.su.se/~siven/

No 2005:7, Research Papers in Economics from Stockholm University, Department of Economics

Abstract: The first part of the paper surveys the discussion of monetary equilibrium by Wicksell, Lindahl, Myrdal, Ohlin and Palander. In the second part a number of analytical aspects of monetary equilibrium are discussed: The formulation of the first equilibrium condition in terms of prices instead of in terms of quantities; The interpretation of the second equilibrium condition as equality between saving and investments; What was the exact interpretation of the rate of interest as a monetary phenomenon; The economic interpretation of a gap between the natural and the loan rate of interest; and the use of equilibrium and disequilibrium analysis.

Keywords: Monetary equilibrium; Monetary theory; Wicksell; Myrdal (search for similar items in EconPapers)
JEL-codes: B22 B30 E40 (search for similar items in EconPapers)
Pages: 53 pages
Date: 2005-09-07
New Economics Papers: this item is included in nep-cba, nep-hpe, nep-mac, nep-mon and nep-pke
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