The Credit Economy: Wicksell

John Hicks

in A Market Theory of Money

Published in print August 1989 | ISBN: 9780198287247
Published online November 2003 | e-ISBN: 9780191596407 | DOI:
 The Credit Economy: Wicksell

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This chapter begins with a discussion of two pure models of a credit economy — the monocentric and polycentric models — each of which has its uses. It then analyzes the simplest example of a monocentric model constructed by Knut Wicksell. Revisions of the Wicksell model are considered.

Keywords: Knut Wicksell; economic models; credit economy; monocentric model; polycentric model

Chapter.  4374 words. 

Subjects: Macroeconomics and Monetary Economics

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