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David Ricardo (1772-1823),
his predecessors, and those later economists who elaborated the basic
Ricardian doctrines.
The economic model which
incorporates the views of the classical economists.
The propositions, deriving
from classical assumptions, that (1) full employment is assured and (2)
money is neutral.
A change in the rate at
which the money supply is being changed each period.
A theory of the interest
rate which holds that monetary disturbances can affect the equilibrium
value for the real interest rate.
The market rate of interest
less the expected change in prices, for an economy which is in
full-employment equilibrium and is correctly anticipating inflation.
Something occurring when
changes in the money supply leave the equilibrium values of the real variables
of the economy unaffected.
A theory in which shifts in
the money supply or the money demand function leave the equilibrium
interest rate unchanged.
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