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Uneasy Money

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Uneasy Money

19.04.2024

My New Paper on Hawtrey Is Available on SSRN | Uneasy Money

Last fall and early winter I posted a series of four blogposts (here, here, here, and here) about or related to Ralph Hawtrey as I was trying to gather my thoughts about an essay I wanted to write about Hawtrey as a largely forgotten pioneer of macroeconomics who has received the attention of two recent…

Uneasy Money

28.06.2024

My Article “Ralph Hawtrey: A Forgotten Pioneer of Macroeconomics” Has Been Published in Economic Affairs | Uneasy Money

The published version of the article is now available on the Economic Afairs website https://onlinelibrary.wiley.com/toc/14680270/2024/44/2. Here's the abstract: This article considers the contributions of Ralph Hawtrey to monetary theory and macroeconomics, focusing on his monetary business cycle theory and his monetary explanation of the Great Depression. Unlike Milton Friedman's US-centred explanation of the Great Depression,…

Uneasy Money

22.07.2024

Thought and Details on the Fiscal Theory of the Price Level | Uneasy Money

The Fiscal Theory of the Price Level has been percolating among monetary theorists for over three decades: Eric Leeper being the first to offer a formalization of the idea, with Chris Sims and Michael Woodford soon contributed to its further development. But the underlying idea that the taxation power of the state is essential for…

Uneasy Money

24.01.2025

Hicks on Temporary Equilibrium | Uneasy Money

J. R. Hicks, who introduced the concept of intertemporal equilibrium to English-speaking economists in Value and Capital, was an admirer of Carl Menger, one of the three original Marginal Revolutionaries, crediting Menger in particular for having created an economic theory in time (see his "Time in Economics" in Collected Essays on Economic Theory, vol. II).…

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