Economic Theory of Bank Credit

Hardcover | November 8, 2015

byL. Albert Hahn

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L. Albert Hahn published the first edition of the Economic Theory of Bank Credit in 1920 and a radically revised third edition in 1930. Economic Theory of Bank Credit is a clear exposition of a theory of credit and stands in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. Atheory of credit recognizes that banks are not only intermediaries of savings but in fact create money themselves. This idea is paired with a detailed account of the technical processes of the banking sector. In Part Two, Hahn provides an economic account of the effects of credit creation on theeconomy: banks vary their credit creation activity for various reasons and cause fluctuations in overall economic activity. Hahn therefore develops a monetary theory of the business cycle in the spirit of Schumpeter. The first and third editions draw different conclusions about central bank policy.The first edition is optimistic that an ever-lasting boom could be achieved, whilst the third edition sees the core function of central bank policy as smoothing economic fluctuations.This edition, translated into English for the first time, enables the reader to revisit this classic contribution to monetary theory. It features a complete translation of the first edition, key elements of the third edition, and a new introduction by Professor Harald Hagemann.

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L. Albert Hahn published the first edition of the Economic Theory of Bank Credit in 1920 and a radically revised third edition in 1930. Economic Theory of Bank Credit is a clear exposition of a theory of credit and stands in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. Atheory of credit recognizes that banks are n...

L. Albert Hahn (1889-1968) was a German banker, economist, and university professor at the University of Frankfurt am Main. He was born into a family of private bankers in Frankfurt am Main on October 12, 1889. Hahn received PhDs from the University of Marburg in law in 1912 and in economics in 1919. He was on the managing board of the...

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Format:HardcoverDimensions:240 pages, 8.5 × 5.43 × 0.79 inPublished:November 8, 2015Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198723075

ISBN - 13:9780198723073

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Table of Contents

Harald Hagemann: IntroductionTranslator's notesTable of concordanceEconomic Theory of Bank CreditPreface (1st edition)Preface (2nd edition)Preface (3rd edition)Economic Theory of Bank Credit (1st edition)IntroductionPart One: Credit and Banks1A. Forms of credit1B. The extent of credit activities of banksPart Two: Credit and the Goods Markets2A. The prevailing opinion on the relationship between credit and capital goods (the influence of capital on credit)2B. The influence of credit on capital2C. The effect of credit on savings2D. Credit and business cyclesPart Three: International Credit3A. Credit and capital export3B. Credit and foreign currencyEconomic Theory of Bank Credit (3rd edition)Part One: Credit and BanksAppendix 1: Forms of granting creditPart Two: Credit and the Goods MarketsAppendix 2: The influence of credit on goods productionAppendix 3: Credit and capitalAppendix 4: Credit and business cyclesAppendix 5: The limit for inflationary credit expansion