Title

Knut Wicksell: Real Business Cycle Theorist

Document Type

Article

Publication Date

11-1993

Publication Source

Scottish Journal of Political Economy

Abstract

In this paper I argue that Wicksell was an expositor of Real Business Cycle (RBC) theory. According to Wicksell, trade cycles have little to do with erratic monetary policies but rather are because "technical and commercial progress cannot by its very nature give rise to a series which proceeds as evenly as the growth in our time of human needs" (Wicksell, 1898, p. ix).

Inclusive pages

471-476

ISBN/ISSN

0036-9292

Publisher

John Wiley & Sons

Volume

40

Issue

4

Peer Reviewed

yes