Real and Monetary Factors in Economic Fluctuations
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.
KeywordsMonetary Policy Trade Cycle Aggregate Demand Economic Fluctuation International Monetary System
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- 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
- 3.See G. Haberler, Prosperity and Depression ( New York: Atheneum, 1963 ), p. 16.Google Scholar
- 4.J. M. Keynes, General Theory (London: Macmillan, 1936 ), 4, 5, pp. 298–304.Google Scholar
- 5.G. Di Nardi, ‘Le politiche di impiego dei mezzi per to sviluppo economico’, Rivista di Politica Economica (1956).Google Scholar
- 6.Among the most recent see John Cornwall, ‘The Ceiling and the Domar Effect as Stabilizers’, Kyklos, 1 (1974).Google Scholar