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Article
Knut Wicksell: Real Business Cycle Theorist
Scottish Journal of Political Economy
  • Tony Caporale, University of Dayton
Document Type
Article
Publication Date
11-1-1993
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
Peer Reviewed
Yes
Citation Information
Tony Caporale. "Knut Wicksell: Real Business Cycle Theorist" Scottish Journal of Political Economy Vol. 40 Iss. 4 (1993)
Available at: http://works.bepress.com/tony_caporale/13/