Knut wicksell's norm of price stabilization and Swedish monetary policy in the 1930's
(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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https://lup.lub.lu.se/record/24b2e109-4e2a-46ac-a7a7-c252cebb4430
- author
- Jonung, Lars LU
- organization
- publishing date
- 1979-10
- 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
- ISSN
- 0972-9291
- DOI
- 10.1016/0304-3932(79)90010-2
- language
- English
- LU publication?
- yes
- additional info
- Cited By :37 Export Date: 22 February 2017
- id
- 24b2e109-4e2a-46ac-a7a7-c252cebb4430
- date added to LUP
- 2017-02-23 10:56:09
- date last changed
- 2021-01-03 03:47:06
@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}}, issn = {{0972-9291}}, 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}}, doi = {{10.1016/0304-3932(79)90010-2}}, volume = {{5}}, year = {{1979}}, }