Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/297767 
Year of Publication: 
2023
Series/Report no.: 
Research Report No. 2023-4
Publisher: 
The University of Western Ontario, Department of Economics, London (Ontario)
Abstract: 
Modern mainstream macroeconomics treats the economy 'as if' always in equilibrium. Two older traditions, Monetarism and the Wicksell Connections have always dissented, arguing that how agents gather information and apply it to the co-ordination of their activities are prior problems requiring attention before equilibrium can, or cannot, be assumed. They have developed the implications of this claim along different lines, however, with the former dealing with questions raised by the existence of monetary exchange in general and the latter concentrating in particular on inter-temporal issues. This gap has persisted since Wicksell opened it up, and has never been satisfactorily bridged: why?
Subjects: 
Wicksell
Monetarism
information
co-ordination
equilibrium
JEL: 
B13
B22
D50
D80
E10
Document Type: 
Working Paper

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