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Elements of Hayek Monetary Theory

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  • Nikolay Nenovsky

    (LEO - Laboratoire d'économie d'Orleans [2008-2011] - UO - Université d'Orléans - CNRS - Centre National de la Recherche Scientifique)

Abstract

The monetary theory (theory of money order), which is an integral part of Haieks views on order, has not been sufficiently popularized among Bulgarian readers. When it is referred to, the following are usually mentioned, without going into detail: monetary explanation of crises and cycles, the explanation of prices as transmission of knowledge and information and, of course, the “exotic idea” of private competitive money. The present article is an attempt to partly reinstate the “technical aspects’ of Haiek’s monetary theory.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Nikolay Nenovsky, 2004. "Elements of Hayek Monetary Theory," Post-Print halshs-00259730, HAL.
    • Handle: RePEc:hal:journl:halshs-00259730
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    References listed on IDEAS

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    1. Kevin Dowd, 1995. "A Rule to Stabilize the Price Level," Cato Journal, Cato Journal, Cato Institute, vol. 15(1), pages 39-63, Spring/Su.
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    3. White, Lawrence H, 1999. "Hayek's Monetary Theory and Policy: A Critical Reconstruction," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 31(1), pages 109-120, February.
    4. George A. Selgin & Lawrence H. White, 1994. "How Would the Invisible Hand Handle Money?," Journal of Economic Literature, American Economic Association, vol. 32(4), pages 1718-1749, December.
    5. White, Lawrence H, 1984. "Competitive Payments Systems and the Unit of Account," American Economic Review, American Economic Association, vol. 74(4), pages 699-712, September.
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    More about this item

    Keywords

    Elements; Hayek; Monetart; Theory;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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