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The Influence of Irving Fisher on Milton Friedman's Monetary Economics

Bordo, Michael D. - 2011

This paper examines the influence of Irving Fisher's writings on Milton Friedman's work in monetary economics. We focus … building blocks for later students of monetary economics. Thus, the Chicago School of the 1930s absorbed Fisher's approach, and …

Persistent link: https://www.econbiz.de/10012461390

Mr. Keynes and the "Classics"; A Suggested Reinterpretation

Eggertsson, Gauti B.; Petracchi, Cosimo - National Bureau of Economic Research - 2021

This paper revisits and proposes a resolution to an empirical and theoretical controversy between Keynes and the "classics" (or monetarists). The controversy dates to Keynes's General Theory (1936)--most famously formalized in Hicks's (1937) classic Econometrica article, in which the IS-LM model...

Persistent link: https://www.econbiz.de/10012616606

On the Adequacy or Inadequacy of Keynesian Balance-of-Payments Theory : A Rejoinder

Buiter, Willem H. - 1982

This note again refutes Kuska's proposition that equality between the demand for and supply of money ("money market equilibrium") implies equilibriumin the balance of payments.Indeed, under a regime of fixed exchange rates it is precisely the balance of payments deficit or surplus that...

Persistent link: https://www.econbiz.de/10012478073

Keynes and the Dollar in 1933

Edwards, Sebastian - 2017

On December 1933, John Maynard Keyes published an open letter to President Roosevelt, where he wrote: "The recent gyrations of the dollar have looked to me more like a gold standard on the booze than the ideal managed currency of my dreams." In this paper I use high frequency data to investigate...

Persistent link: https://www.econbiz.de/10012455540

"If you compete with us, we shan't marry you" The (Mary Paley and) Alfred Marshall Lecture

Pande, Rohini; Roy, Helena - National Bureau of Economic Research - 2021

economics, with Marshall's encouragement. But in later life, Marshall opposed granting Cambridge degrees to women and their … participation in academic economics. This paper recounts Alfred Marshall's use of gender norms, born out of a separate spheres … ideology, to promote and ingrain women's exclusion in academic economics and beyond. We demonstrate the persistence of this …

Persistent link: https://www.econbiz.de/10012696390

Milton Friedman and Exchange Rates in Developing Countries

Edwards, Sebastian - 2020

Milton Friedman's famous 1953 essay, "The case for flexible exchange rates," deals entirely with advanced nations. An interesting question is what Friedman thought about exchange rate and monetary regimes in emerging economies. In this paper I investigate how his views on the subject evolved...

Persistent link: https://www.econbiz.de/10012482195

Depression for Economists

de Quidt, Jonathan - 2016

attention in the economics literature. In this paper, we present a simple model which predicts the core symptoms of depression …

Persistent link: https://www.econbiz.de/10012455707

Search for a Theory of Money

Kiyotaki, Nobuhiro - 1990

The classical and early neoclassical economists knew that the essential function of money was its role as a medium of … economics: the interaction between specialization and exchange, dual fiat currency regimes, the welfare improving role of money …

Persistent link: https://www.econbiz.de/10012475545

Historical Macroeconomics and American Macroeconomic History

Calomiris, Charles W. - 1994

What can macroeconomic history offer macroeconomic theorists and macroeconometricians? Macroeconomic history offers more than longer time series or special `controlled experiments.' It suggests an historical definition of the economy, which has implications for macroeconometric methods. The...

Persistent link: https://www.econbiz.de/10012473969

Marshall's Economies

Henderson, Vernon - 1999

This paper estimates the nature and magnitude of the local externalities from own industry scale, as envisioned by Marshall. Census panel data on individual plants in high-tech and machinery industries across up to 487 countries are utilized, to quantify the direct effects of local external...

Persistent link: https://www.econbiz.de/10012471426