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Working Paper
Wicksell's monetary framework and dynamic stability
Traditionally, central banks seeking to stabilize general prices have followed policies similar to those advocated by Knut Wicksell: when prices are higher that desired, raise interest rates to exert downward pressure on prices, and conversely. Despite the historical predominance of interest rate-based monetary policies, analysts frequently focus on how prices are affected by control of the money stock (or its high-powered base). In those cases where they do examine the relationship between interest rates and prices, they mostly do so in a Keynesian framework rather than a Wicksellian one. ...
Monograph
Some current controversies in the theory of inflation
Originally appeared in the Federal Reserve Bank of Richmond, Economic Review, July/August 1976
Journal Article
Book review: The real Adam Smith
Adam Smith's lost legacy by Gavin Kennedy
Monograph
The concept of indexation in the history of economic thought
originally appeared in the Federal Reserve Bank of Richmond Economic Review, Nov/Dec 1974
Journal Article
Classical deflation theory
Journal Article
Fisher and Wicksell on the quantity theory
Working Paper
Interest rates, expectations, and the Wicksellian policy rule
Prominent among older theories of inflation is the view that a rising price level stems from a divergence between two rates of interest.
Monograph
On cost-push theories of inflation in the pre-war monetary literature
Originally appeared in the Federal Reserve Bank of Richmond, Economic Review, May/June 1977
Monograph
Essays on inflation