Lars Jonung
Professor emeritus
Knut wicksell's norm of price stabilization and Swedish monetary policy in the 1930's
Författare
Summary, in English
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.
Avdelning/ar
- Nationalekonomiska institutionen
Publiceringsår
1979-10
Språk
Engelska
Sidor
459-496
Publikation/Tidskrift/Serie
The ICFAI Journal of Monetary Economics
Volym
5
Issue
4
Dokumenttyp
Artikel i tidskrift
Ämne
- Economic History
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 0972-9291