The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Monetary Economics, History of

  • Robert W. Dimand
Reference work entry


Throughout its long history, monetary economics has been concerned with the role of money in exchange, with what determines the purchasing power of money, and with the effects of changes in the purchasing power of money on interest rates and real economic activity.


Aggregate demand Allais, M Aristotle Bagehot, W Banking crises Banking school Barter Bentham, J Bimetallism Bullionist controversy Cantillon, R Central banking Convertibility Credit cycles Currency school Debasement of currency Distributed lags Effective demand Equation of exchange Exchange Fiat money Fisher, I Forced saving Free banking Friedman, M Fullarton, J General equilibrium approach to monetary theory Gold standard Hawtrey, R. G Hicks, J. R Hume, D Index numbers Inflation Inflation Interest rate limits Involuntary unemployment Jevons, W. S Keynes, J. M Malthus, T. R Markowitz, H. M Marshall, A Medium of exchange Mercantilism Mill. J. S Monetarism Monetary approach to the balance of payments Monetary economics Monetary policy rules Money Money illusion Money supply Mun, T Natural rate and market rate of interest Neutrality of money Nominal interest rates Open market operations Overlapping generations models Pigou, A. C Plato Portfolio choice Price revolution Quantity theory of money Real balances Real bills doctrine Ricardo, D Robertson, D. H Say’s equality Say’s identity Say’s law Sismondi, J. C. L. S. de Smith, A Specie-flow mechanism Stabilization Stockholm school Symmetallism Taylor rule Term structure of interest rates Thornton, H time preference Tobin, J Tooke, T Turgot, A.R. J Uncovered interest parity Unemployment Veil of money Velocity of circulation] Walras, L Walras’s, Law Wicksell, J. G. K 

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Robert W. Dimand
    • 1
  1. 1.