Real and Monetary Factors in Economic Fluctuations

  • John Hicks


Nearly twenty-five years ago I published a book called A Contribution to the Theory of the Trade Cycle. Though it is just called ‘Trade Cycle’ on the back, the full title was very seriously meant. I was not writing a textbook, or treatise, on economic fluctuations; I was simply exploring a particular model which, at the time of writing, appeared to have some relevance. Now, when I look back at what I wrote, I am even more inclined to insist upon the limitation of what I was doing than I was then.


Monetary Policy Trade Cycle Aggregate Demand Economic Fluctuation International Monetary System 
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  1. 1.
    G. Di Nardi, ‘Interdipendenza e indeterminazione dinamica nella teoria economica’, Giornale degli Economisti, 1 (1942) par. 2; translated in French in Economies et Sociétés, ISEA, Paris, n∘• 9, Nov 1967.Google Scholar
  2. 3.
    See G. Haberler, Prosperity and Depression ( New York: Atheneum, 1963 ), p. 16.Google Scholar
  3. 4.
    J. M. Keynes, General Theory (London: Macmillan, 1936 ), 4, 5, pp. 298–304.Google Scholar
  4. 5.
    G. Di Nardi, ‘Le politiche di impiego dei mezzi per to sviluppo economico’, Rivista di Politica Economica (1956).Google Scholar
  5. 6.
    Among the most recent see John Cornwall, ‘The Ceiling and the Domar Effect as Stabilizers’, Kyklos, 1 (1974).Google Scholar

Copyright information

© Banca Commerciale Italiana 1976

Authors and Affiliations

  • John Hicks

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