Jerome L. Stein, 1928-

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One of the creators of the "Keynes- Wicksell" model of monetary growth which incorporated an independent investment function and took careful consideration of disequilibrium and macro-growth linkage harked back to the works of Wicksell, Keynes and Hayek. Jerome Stein's initial presentation of the model in the late 1960s - in particular, his Money and Capacity Growth (1971) presentation - was coupled with Hugh Rose's and Keizo Nagatani's developments. However, it had a short-lived existence as the attention of macroeconomists turned to the Rational Expectations debate. Since then, Stein has worked on problems of stabilization policy and finance. The Keynes-Wicksell model has recently had a resurgence in Post Keynesian and Post Walrasian theory. J.L. Stein currently teaches at Brown.

Major works of Jerome L. Stein

• "Methods of Indentifying Disturbances which Produce Changes in Money National income", 1960, JPE
• "The Nature and Efficiency of the Foreign Exchange Market", 1962, Essays in International Finance.
• "Money and Capacity Growth", 1966, JPE.
• "Neoclassical and Keynes-Wicksell Models of Monetary Growth", 1969, JMCB.
• "A Minimal Role of Government in Achieving Optimal Growth", 1969, Economica.
• "Stabilization Policies in a Growing Economy" with K. Nagatani, 1969, RES.
• "Monetary Growth Theory in Perspective", 1970, AER.
• Money and Capacity Growth, 1971.
• "Optimal Stabilization", with E.F.Infante, 1973, JMCB.
• "Unemployment, Inflation andMonetarism", 1974, AER.
• "Inside the Monetarist Black Box", 1976, in Stein, editor, Monetarism.
• "Inflation, Employment and Stagflation", 1978, JME.
• "Spot, Forward and Futures", 1979, in Levy, editor, Research in Finance.
• Monetarist, Keynesian and New Classical Economics, 1982.

Resources on Jerome L. Stein

• HET Pages: Keynes-Wicksell Monetary Growth Models

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