7 articles in this issue
F. MACHLUP
The debate over a devaluation of the U.S. dollar in terms of gold had been going on for months, but the parties seem to be unable to sort out sense from nonsense, truth from fiction, economics from politics and cosmetics. There is speak of “burden” and “b... see more
A. GAMBINO
The article considers Milton Friedman’s counter revolution in monetary theory. In effect, this counter-revolution starts with a reaffirmation, supported by an up-to-date re-elaboration, of the ultra secular quantity theory as far as this theory gives outs... see more
D.R. HODGMAN
The article presents French monetary and credit controls as a coherent system, displays the inner logic of this system and evaluates its implications for policy objectives related to growth, the price level and balance-of-payments. The French system is su... see more
V. BARATTIERI,G. RAGAZZI
This paper analyses the possible effects of the two-tier foreign exchange market. This system, which has been in operation in Belgium for over 15 years, has recently found new supporters, as is indicated by the fact that during the international monetary ... see more
A. CAMPOLONGO
The five-year period covered by Italy’s first national economic Plan came to an end in December last year, so now it is possible to make a limited statistical assessment ex post of its results. The author confines comments to a few of the quantitative for... see more
R.S. MASERA
In this brief note, the author criticises A.K. Kelly’s A Critical Note on the Quantity Theory of Money. The author contends that while there are certainly sound arguments supporting the view that the nominal stock of money is partly dependent on the endog... see more
A. KELLY
In this brief note, the author responds to R.S. Masera’s criticism of the author’s position on the quantity theory of money. The author maintains that the monetary authorities cannot arbitrarily create excessive money balances in the hands of the public a... see more