The dutch monetary environment during tulipmania

  title={The dutch monetary environment during tulipmania},
  author={Doug French},
  journal={The Quarterly Journal of Austrian Economics},
  • D. French
  • Published 1 March 2006
  • Economics
  • The Quarterly Journal of Austrian Economics
W hen the economics profession turns its attention to financial panics and crashes, the first episode mentioned is tulipmania. In fact, tulipmania has become a metaphor in the economics field. Should one look up tulipmania in The New Palgrave: A Dictionary of Economics, a discussion of the seventeenth century Dutch speculative mania will not be found. Guillermo Calvo (1987, p. 707), in his contribution to the Palgrave instead defines tulipmania as: "situations in which some prices behave in a… 
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