This article suggests a possible approach to the explanation of the monetarist money demand theory and the related policy implications in the teaching of History of economic thought. For the purpose of better understanding Milton Friedman’s contribution the emphasis is put on the conceptual...

The rhetoric of positivism had a profound effect on the worldview and practice of economists in the middle of the last century. Though this influence has greatly diminished, it still may be found in the attitude of many economists towards the history of their discipline. This paper traces the...

An unfailing element in the Italian tradition of economics is a deep concern with its past. However, motivations have been different through time. Neoclassical economists, such as Pantaleoni and Einaudi, approached the past in order to demonstrate the eternity of the "economic dogma". This...

This is an unpublished document on the history of Italian economic planning in the 1970s: a letter of the Italian minister Ugo La Malfa to Claudio Napoleoni

The expression “Say’s Law” is used in the economics literature to represent the arguments set out by Say in Chapter XV, Des Débouchés, Book I, of his Traité d’Economie Politique (1st ed. 1803; 4th ed. 1819, 1st English trans. 1821). These arguments, later known and discussed under the...

Blending past and present, this brief history of economics is the perfect book for introducing students to the field. A Brief History of Economics illustrates how the ideas of the great economists not only influenced societies but were themselves shaped by their cultural milieu. Understanding...

The demand for money is the key element uniting major structural models of exchange rate determination. The author analyzes the history of money demand theorizing in connection with the development of structural models of exchange rate determination. The author demonstrates that the evolution of...

Trade deficits and surpluses are sometimes attributed to intentionally low or high exchange rate levels. The impact of exchange rate levels on trade has been much debated but the large body of existing empirical literature does not suggest an unequivocally clear picture of the trade impacts of...

The aim of this study is to estimate the equilibrium REER of Latvia, which was done by using different methodologies, including IMF CGER approach, and the NATREX and SVAR models. The IMF methodology implies the application of three different methods: the macroeconomic balance method, the...