Woodford and Wicksell on Interest and Prices: The Place of the Pure Credit Economy in the Theory of Monetary Policy

@article{Laidler2006WoodfordAW,
  title={Woodford and Wicksell on Interest and Prices: The Place of the Pure Credit Economy in the Theory of Monetary Policy},
  author={D. Laidler},
  journal={Journal of the History of Economic Thought},
  year={2006},
  volume={28},
  pages={151 - 159}
}
  • D. Laidler
  • Published 2006
  • Economics
  • Journal of the History of Economic Thought
There can be no doubt that the monetary systems of a number of advanced countries nowadays resemble Knut Wicksell's (1898) model of the “pure credit economy” much more closely than did any that actually existed in the world for which he wrote. Currency has long been losing its quantitative importance in mediating transactions among the general public in such countries, and more recently, the development of modern information technology has made it possible for them to operate the clearing and… Expand
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