Bonaire, St.Eustat, Saba Map

Bonaire, St.Eustat, Saba Map for H. Roberston (1925) made one of the earliest contributions in Wicksellsian monetary economics with a rather complex model that explicitly took into account saving and investment in a temporal setting. One of his more colorful insights involved forced saving, which he called automatic stinting or imposed lacking. When the economy is in full employment and the bank rate falls below the natural rate of interest, investment increases. The resources for increased investment come at the expense of consumption. If households expected to save a certain amount in a forthcoming period and end up saving more than expected, this is forced saving. Robertson, without explicitly stating it, had discovered ex ante, ex post analysis. Bonaire, St.Eustat, Saba Map 2016.

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