Wicksell’s cumulative process in theory and practice

Authors

  • D. PATINKIN

DOI:

https://doi.org/10.13133/2037-3643/11712

Keywords:

Knut Wicksell, monetary theory, quantity theory of money, fractional reserve banking system, Cagan

Abstract

Text of a lecture delivered at the university of UPSALA. The author discusses Knut Wicksell’s legacy, with specific reference to monetary theory. The author places Wicksell among the adherents of the quantity theory of money, although recognising that a fractional reserve banking system abides by different rules. The author rejects Cagan’s criticism of Wicksell and he considers empirical evidence in support of Wicksellian results.

 

JEL: B31, B13, E40

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Published

2014-03-01

How to Cite

PATINKIN, D. (2014). Wicksell’s cumulative process in theory and practice. PSL Quarterly Review, 21(85). https://doi.org/10.13133/2037-3643/11712

Issue

Vol. 21 No. 85 (1968)

Section

Editorial

License

 
 
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