The Theory of Income Determination

  • D. C. Rowan


As a result of our work in Chapter 11 we now have a theory of the determination of the equilibrium rate of interest. Our elementary model is thus complete. It is therefore convenient at this point to summarise our argument: that is, to display in full the characteristics of the model at this stage. Once this is done we can proceed (i) to see where the model needs further extensions, and (ii) to see what predictions it yields.


Interest Rate Money Supply Real Income Good Market Equilibrium Level 
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Suggested reading

  1. Miles Fleming, Monetary Theory (Macmillan, 1971).Google Scholar
  2. *J. R. Hicks, ‘Mr Keynes and the Classics’, in Readings in the Theory of Income Distribution, ed. W. Fellner and B. Haley (Allen & Unwin, 1950).Google Scholar
  3. J. M. Keynes, The General Theory of Employment, Interest and Money (Macmillan, 1936) ch. 18.Google Scholar
  4. D. W. Laidler, The Demand for Money (Scranton, 1969).Google Scholar
  5. W. T. Newlyn, The Theory of Money (Oxford University Press, 1971) ch. 8.Google Scholar

Copyright information

© D. C. Rowan 1983

Authors and Affiliations

  • D. C. Rowan
    • 1
    • 2
  1. 1.University of SouthamptonUK
  2. 2.University of New South WalesSydneyAustralia

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