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Banking Policy and Economic Fluctuations

In: The New Art of Central Banking

Author

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  • M. L. Burstein

    (York University)

Abstract

After a preliminary conspectus, Dennis Robertson’s Banking Policy and the Price Level (1926/1932) is studied from a particular slant. Robertson, like Wicksell, fails to explain satisfactorily how the banking system crams huge dollops of new ‘notes’ down the economy’s gullet. He fails to develop properly the monetary process dual to his forced saving (induced lacking) one.

Suggested Citation

  • M. L. Burstein, 1991. "Banking Policy and Economic Fluctuations," Palgrave Macmillan Books, in: The New Art of Central Banking, chapter 9, pages 169-199, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11626-3_9
    DOI: 10.1007/978-1-349-11626-3_9
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