Subjects Of Study: marginal productivity theory money. See all related content →. Knut Wicksell, (born Dec. 20, 1851, Stockholm—died May 3, 1926, Stocksund, Swed.), Swedish economist, the foremost in his generation and internationally renowned for his pioneering work in monetary theory.
Johan Gustaf Knut Wicksell (December 20, 1851 – May 3, 1926) was a Swedish economist, often regarded as the father of the Stockholm School of Economics. His work attempted to synthesize three theoretical approaches to economics—the Lausanne school, the Austrian school , and the Ricardians .
Wicksell, Knut. Knut Wicksell (1851-1926), Swedish economist, was born in Stockholm. He made an important contribution to the marginalist theory of price and distribution with Value, Capital and Rent (1893) and emerged as a pioneer in monetary theory with Interest and Prices (1898). His final statement of his views on price and distribution ...
Knut Wicksell. 1851-1926. E conomist Knut Wicksell made his name among the Swedish public with a series of provocative lectures on the causes of prostitution, drunkenness, poverty, and overpopulation. A malthusian, the young Wicksell advocated birth control as the cure for these social ills.
The idea of a natural rate of interest has been around ever since the Swedish economist Knut Wicksell wrote about it in 1898. Early on, it was recognized that it's not something that can be directly observed or measured. As the economist John H. Williams wrote in 1931: "The natural rate is an abstraction; like faith, it is seen by its works.
However, Ohlin credited the origin of the theory to Knut Wicksell, a Swedish economist, and the Stockholm school, which included economists like Erik Lindahl and Gunnar Myrdal. Interest Rate and its Types. Loanable funds theory is used to determine the interest rate in the money market of a country. Interest Rate
At the end of the 19th century, Knut Wicksell defined the "natural rate of interest" (NIR) as that threshold at which rates exert neither inflationary nor disinflationary pressures: a monetary policy of rates higher than the NIR will cool the economy, while lower rates will overheat it.
In Part 2, after seeing how the Great Depression turned out just the way Knut Wicksell had described decades before it and how Milton Friedman would begin to explain it decades afterward, we’ll find the final pieces of our answer from none other than Mr. Ben Bernanke for the finishing touch to first bridge the divide of monetary neutrality…and then seven decades of time.
Knut Wicksell Working Paper Series From Lund University, Knut Wicksell Centre for Financial Studies Knut Wicksell Centre for Financial Studies, Lund University School of Economics and Management, P.O. Box 7082, S-220 07 Lund, Sweden.
"Knut Wicksell" published on by null. (1851 –1926)A monetary theorist in the marginalist tradition considered to be an important forerunner of John Maynard Keynes. Wicksell was among the first to use monetary theory to analyze ...