How does Keynes’s position deviate from that of Wicksell and Fisher with respect to macroeconomic stability?

Wicksell, just like Fisher, assumed that banking systems have the power to influence interest rates as opposed to money supply as a constraint on an economy. This proposition differed fundamentally from the classical microeconomic theory in Keynesian formulations, which viewed money supply as a variable determined exclusively by a monetary policy.

Fisher and Wicksell did not seem to pay closer attention to possible changes in the overall national output. At the same time, Wicksell argued that nominal adherence to the classical approaches and the quantity theory, his formulations, and analyses deviated from those of Keynes in respect to savings and investment.

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Academic.Tips. 2022. "How does Keynes’s position deviate from that of Wicksell and Fisher with respect to macroeconomic stability?" November 28, 2022. https://academic.tips/question/how-does-keyness-position-deviate-from-that-of-wicksell-and-fisher-with-respect-to-macroeconomic-stability/.

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Academic.Tips. "How does Keynes’s position deviate from that of Wicksell and Fisher with respect to macroeconomic stability?" November 28, 2022. https://academic.tips/question/how-does-keyness-position-deviate-from-that-of-wicksell-and-fisher-with-respect-to-macroeconomic-stability/.

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"How does Keynes’s position deviate from that of Wicksell and Fisher with respect to macroeconomic stability?" Academic.Tips, 28 Nov. 2022, academic.tips/question/how-does-keyness-position-deviate-from-that-of-wicksell-and-fisher-with-respect-to-macroeconomic-stability/.

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