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The orthodoxy of the 1870s
The monetary element in neoclassical cycle theory
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Alfred Marshall analysis argued Bagehot Bank of England banking system behaviour bimetallism bimetallists Cambridge School capital changes Chapter classical economics classical economists classical monetary economics commodity cost of production countries cumulative process currency cycle theory cyclical demand for money developed discussed effects empirical equation of exchange equilibrium explicitly fact factors Fisher fluctuations Giffen gold and silver Gold Exchange Standard Gold Standard Hawtrey Hawtrey's hence idea important increase inflation influence institutional Interest and Prices interest rate Jevons Keynes Marshall Marshall's matter Mill Mill's monetary economics monetary system monetary theory monometallism natural rate neoclassical monetary output paper payments period Pigou Power of Money precious metals price level purchasing power quantity of money quantity theory rate of interest reserves rise role Silver Commission specie stability theoretical theorists theory of money trade transmission mechanism value of money variations wage stickiness Walras Wicksell Wicksell's italics