Skip Navigation


Cambridge Journal of Economics Advance Access originally published online on February 17, 2006
Cambridge Journal of Economics 2006 30(6):881-900; doi:10.1093/cje/bej003
This Article
Right arrow Full Text
Right arrow Full Text (PDF)
Right arrow All Versions of this Article:
30/6/881    most recent
bej003v1
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrow Search for citing articles in:
ISI Web of Science (1)
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Boianovsky, M.
Right arrow Articles by Trautwein, H.-M.
Right arrow Search for Related Content
Related Collections
Right arrow B22 - Macroeconomics
Right arrow B31 - Individuals
Right arrow D84 - Expectations; Speculations
Right arrow E22 - Capital; Investment; Capacity
Right arrow E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution
Right arrow E31 - Price Level; Inflation; Deflation
Right arrow E43 - Determination of Interest Rates; Term Structure of Interest Rates
Right arrow E52 - Monetary Policy (Targets, Instruments, and Effects)
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© The Author 2006. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

Article

Price expectations, capital accumulation and employment: Lindahl's macroeconomics from the 1920s to the 1950s

Mauro Boianovsky and Hans-Michael Trautwein*

* Universidade de Brasilia and Carl von Ossietzky Universität Oldenburg, respectively

Address for correspondence: ; email: bioanovs{at}unb.br

Abstract

Erik Lindahl's approach to macroeconomics focused on the non-neutrality of monetary policy (in the short and the long run) and on the denial of the existence of natural rates of interest and unemployment. From the 1920s until his death in 1960, Lindahl advocated the use of norms for monetary policy to fight inflation and deflation precisely because he would not rely on the market system's return to natural rates. Making use of hitherto unexplored material, this paper analyses the development of Lindahl's thinking about price level changes, investment and employment from the 1920s to the 1950s.

Key Words: Monetary policy rules • Non-neutrality of money • Inflation acceleration

JEL classifications: B22, D84, E31, E52

Manuscript received January 10, 2005; final version received August 5, 2005.


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?




Disclaimer: Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.