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Knut Wicksell and the Closure of his System: Critique and Reconstruction of the Cumulative Process

  • M. L. Burstein

Abstract

Wicksell’s ingenious conception of a cumulative process incident to a rift between natural and market rates of interest has led to the malignant doctrine that central-bank action fundamentally determines the real cost of capital.2

Keywords

Inflation Rate Real Interest Rate Public Debt Natural Rate Monetary Authority 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© M. L. Burstein 1988

Authors and Affiliations

  • M. L. Burstein

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