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Knut wicksell's norm of price stabilization and Swedish monetary policy in the 1930's

Jonung, Lars LU (1979) In The ICFAI Journal of Monetary Economics 5(4). p.459-496
Abstract
This paper examines the conduct and the effects of Swedish monetary policy in the 1930's. Three major conclusions emerge from the study: (1) The conduct of monetary policy specifically the devaluation of the Swedish currency in 1931 and the subsequent program of price stabilization, had a major effect on the aggregative behavior of the Swedish economy in the 1930's. (2) The impact of the new fiscal policy was insignificant compared to the effects of monetary measures and international developments. (3) The framing of Swedish monetary policy in the 1930's was strongly influenced by Wicksell's norm of price stabilization and the recommendations of the old generation of monetary economists represented by Gustav Cassel and Eli Heckscher.
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
The ICFAI Journal of Monetary Economics
volume
5
issue
4
pages
38 pages
external identifiers
  • Scopus:37949011691
DOI
10.1016/0304-3932(79)90010-2
language
English
LU publication?
yes
id
24b2e109-4e2a-46ac-a7a7-c252cebb4430
date added to LUP
2017-02-23 10:56:09
date last changed
2017-03-16 10:47:24
@article{24b2e109-4e2a-46ac-a7a7-c252cebb4430,
  abstract     = {This paper examines the conduct and the effects of Swedish monetary policy in the 1930's. Three major conclusions emerge from the study: (1) The conduct of monetary policy specifically the devaluation of the Swedish currency in 1931 and the subsequent program of price stabilization, had a major effect on the aggregative behavior of the Swedish economy in the 1930's. (2) The impact of the new fiscal policy was insignificant compared to the effects of monetary measures and international developments. (3) The framing of Swedish monetary policy in the 1930's was strongly influenced by Wicksell's norm of price stabilization and the recommendations of the old generation of monetary economists represented by Gustav Cassel and Eli Heckscher.},
  author       = {Jonung, Lars},
  language     = {eng},
  number       = {4},
  pages        = {459--496},
  series       = {The ICFAI Journal of Monetary Economics},
  title        = {Knut wicksell's norm of price stabilization and Swedish monetary policy in the 1930's},
  url          = {http://dx.doi.org/10.1016/0304-3932(79)90010-2},
  volume       = {5},
  year         = {1979},
}