The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Monetary Equilibrium

  • Otto Steiger
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_969

Abstract

The concept of monetary equilibrium is the fundamental feature of the macroeconomic theory originally formulated by Knut Wicksell (1898, 1906) and corrected, clarified and improved in the 1930s by Erik Lindahl (1930, 1934 and 1939b) and Gunnar Myrdal (1932, 1933 and 1939). Wicksell’s approach was the first attempt to link the analysis of relative prices with the analysis of money prices (Shackle 1945, p. 47).

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Otto Steiger
    • 1
  1. 1.