Template-Type: ReDIF-Article 1.0
Author-Name: Michela Massaro 
Author-Email:
Author-Workplace-Name: Università degli Studi di Firenze - Dipartimento di Scienze Economiche
Title: Moneta, ciclo e risparmio forzato : il contributo analitico di Francesco Vito 
(Money, business cycles and forced savings: the analytical contribution of Francesco Vito)
Abstract: The aim of this paper is to analyse Francesco Vito’s role in the debate of the 1930s on economic fluctuations.
This subject was debated over a long time, and it led to two main theoretical views. Firstly,
an orthodox approach, which can be identified with the Austrian School. Secondly, an heterodox position,
which culminated in Keynes’s General Theory. This paper analyses Vito’s theory of business cycles
as it was formulated in this debate, and especially its peculiar emphasis on the role played by ‘notmonetary-
led’ forced saving. His theories on the causes of cycles and forced saving make Vito a
scholar close to the Austrian school. However he is constantly careful in criticizing some aspects of
the Austrian theory and he developed original intuitions. In particular he was keen to admit that an
increase in investments could be financed by shareholders, causing a particular kind of forced saving,
namely self-financing saving
Classification-JEL: E30; E32; B31 
Keywords: ciclo; risparmio forzato; Francesco Vito 
(business cycles; forced saving; Francesco Vito)
Journal: Il Pensiero Economico Italiano
Pages: 69-89 
Volume: 15
Issue: 2
Year: 2007
File-URL: http://www.libraweb.net/articoli.php?chiave=200706302&rivista=63
Handle: RePEc:pei:journl:v:15:y:2007:2:4:p:69-89