Dictionary of Arguments

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Mause I 224f
Capital market theory/Neoclassics: thesis of the neoclassics: the current price of assets corresponds to the average of all expected future rates. Consequently, (...) the prevailing yield of bonds reflects all yield expectations of market participants.
Neoclassical approaches assume that the circulation speed of money is largely stable or predictable. In this case, monetary policy impulses could have an unimpeded impact on the real sector of the economy. The stability of the circulation speed is justified by the theory of relative prices in the sense of Milton Friedman. (1) VsNeoclassicism: see Monetary Policy/Keynesianism.


1. M. Friedman, The quantity theory of money: A restatement. In Studies in the quantity theory of money, Hrsg. Milton Friedman, 51– 67. Chicago 1956.


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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Neoclassical Economics
Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018


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