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The Coordination Problem in the Stockholm School

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  • Correa Romar

Abstract

We revisit the Stockholm School of Economics with first principles. The objective is a rendition of a cumulative Myrdal-Wicksell process. To that end, we derive heterogeneous responses of consumers and producers to changes in the state of the world and define a Myrdal-Keynes equilibrium.

Suggested Citation

  • Correa Romar, 2015. "The Coordination Problem in the Stockholm School," Journal of Heterodox Economics, Sciendo, vol. 2(2), pages 138-150, December.
    • Handle: RePEc:vrs:joheec:v:2:y:2015:i:2:p:138-150:n:3
    DOI: 10.1515/jheec-2015-0016
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    More about this item

    Keywords

    monetary equilibrium; cumulative processes; the coordination problem;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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