• Table of Contents
    • Abstract
    • Keywords
    • Article
      • Origins of monetary economics
      • Monetary controversies in classical economics
      • The golden age of the quantity theory
      • Cambridge monetary theory and the Keynesian revolution
      • The revival of the quantity theory of money
      • Integrating the theory of money into general economic theory
    • See Also
    • Bibliography
    • How to cite this article

monetary economics, history of

Robert W. Dimand
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Throughout its long history, monetary economics has been concerned with the role of money in exchange, with what determines the purchasing power of money, and with the effects of changes in the purchasing power of money on interest rates and real economic activity.
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Keywords

aggregate demand; Allais, M.; Aristotle; Bagehot, W.; banking crises; Banking School; barter; Bentham, J.; bimetallism; Bullionist Controversy; Cantillon, R.; central banking; convertibility; credit cycles; Currency School; debasement of currency; distributed lags; effective demand; equation of exchange; exchange; fiat money; Fisher, I.; forced saving; free banking; Friedman, M.; Fullarton, J.; general equilibrium approach to monetary theory; gold standard; Hawtrey, R. G.; Hicks, J. R.; Hume, D.; index numbers; inflation; inflation; interest rate limits; involuntary unemployment; Jevons, W. S.; Keynes, J. M.; Malthus, T. R.; Markowitz, H. M.; Marshall, A.; medium of exchange; Mercantilism; Mill. J. S.; monetarism; monetary approach to the balance of payments; monetary economics; monetary policy rules; money; money illusion; money supply; Mun, T.; natural rate and market rate of interest; neutrality of money; nominal interest rates; open market operations; overlapping generations models; Pigou, A. C.; Plato; portfolio choice; price revolution; quantity theory of money; real balances; real bills doctrine; Ricardo, D.; Robertson, D. H.; Say's equality; Say's identity; Say's Law; Sismondi, J. C. L. S. de; Smith, A.; specie-flow mechanism; stabilization; Stockholm School; symmetallism; Taylor rule; term structure of interest rates; Thornton, H.; time preference; Tobin, J.; Tooke, T.; Turgot, A. R. J.; uncovered interest parity; unemployment; veil of money; velocity of circulation]; Walras, L; Walras's, Law; Wicksell, J. G. K.
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Article

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How to cite this article

Dimand, Robert W. "monetary economics, history of." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 31 October 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_M000394> doi:10.1057/9780230226203.1121

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