E. W. Kemmerer's contribution to the quantity theory of money

Betancourt, Rebeca Gómez

doi:10.1080/09672560903204460

Cited by 12 publications

(3 citation statements)

References 11 publications

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“…This book was very successful, with twelve editions in total. The outline of the book was easy: in the first part Kemmerer analyzed the four defects of the old National Banking System prior to the 3 For a wider analysis of Kemmerer's monetary theory, see Gomez Betancourt (2010a& 2010b. On his biography see Gomez Betancourt (2016).…”

Section: Kemmerer and Us Banking Reform Before The Creation Of The Fedmentioning

confidence: 99%

Paul van Zeeland and the First Decade of the US Federal Reserve System: the Analysis from a European Central Banker who was a Student of Kemmerer

Maes

Betancourt

2019

History of Economic Thought and Policy

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The purpose of these working papers is to promote the circulation of research results (Research Series) and analytical studies (Documents Series) made within the National Bank of Belgium or presented by external economists in seminars, conferences and conventions organised by the Bank. The aim is therefore to provide a platform for discussion. The opinions expressed are strictly those of the authors and do not necessarily reflect the views of the National Bank of Belgium.

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Section: Kemmerer and Us Banking Reform Before The Creation Of The Fedmentioning

confidence: 99%

Paul van Zeeland and the First Decade of the US Federal Reserve System: the Analysis from a European Central Banker who was a Student of Kemmerer

Maes

Betancourt

2019

History of Economic Thought and Policy

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“…Not the least of Kemmerer’s achievements was his construction, from data on business failure rates and the dollar liabilities of failed firms, of an index of business distrust. Movements of the index, he thought, accounted for corresponding movements in velocity.” See also Gomez Betancourt (2010a).…”

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confidence: 99%

AMERICAN QUANTITY THEORISTS PRIOR TO IRVING FISHER’STHE PURCHASING POWER OF MONEY

Roches¹,

Betancourt²

2013

J Hist Econ Thought

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The aim of this paper is to analyze the state of the quantity theory in the United States prior to the publication of Irving Fisher’s The Purchasing Power of Money in 1911. We start by presenting the participants in the monetary debate. Next, we analyze the controversies regarding prices, purchasing power of money, and credit, prior to the Gold Standard Act of 1900, in particular the opposing views of Francis Amasa Walker and James Laurence Laughlin. We then go on to study of the restatement of the quantity theory at the beginning of the twentieth century, through the introduction of credit in the analysis and the statistical tests of the exchange equations. Finally, we study the problems and management of the gold standard, focusing on the elasticity of money supply, the characteristics of the gold exchange standard, and the contrast between the fixed price of gold and its fluctuating purchasing power. We show the improvement of the quantity theory and the new issues that emerged from the rich and original American monetary debate, prior to the publication in 1911 of Fisher’s book.

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“… 25 Kemmerer uses here some of the arguments expoused in his first book (1907) on the quantity theory of money. See Gomez Betancourt (2010). …”

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confidence: 99%

Edwin Walter Kemmerer and the Origins of the Fed

Betancourt¹

2010

J Hist Econ Thought

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In this article we analyze Edwin Walter Kemmerer’s contribution to the creation of the Federal Reserve System. Firstly, we contrast Kemmerer’s role in the transition from the Aldrich banking reform plan to the Glass–Owen plan with those of A. Piatt Andrew (who was Aldrich’s main advisor), H. Parker Willis (i.e., Carter Glass’s advisor), and J.L. Laughlin (who was Willis’ mentor). Secondly, we deal with theoretical questions posed by Kemmerer, who, as we assert, developed his own banking reform plan. Even if his proposals were not immediately taken into account in the Federal Reserve Act of 1913, he contributes to the institutional structure of the Federal Reserve System.

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E. W. Kemmerer's contribution to the quantity theory of money

Cited by 12 publications

References 11 publications

Paul van Zeeland and the First Decade of the US Federal Reserve System: the Analysis from a European Central Banker who was a Student of Kemmerer

Paul van Zeeland and the First Decade of the US Federal Reserve System: the Analysis from a European Central Banker who was a Student of Kemmerer

AMERICAN QUANTITY THEORISTS PRIOR TO IRVING FISHER’STHE PURCHASING POWER OF MONEY

Edwin Walter Kemmerer and the Origins of the Fed

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