貨幣経済学と貨幣数量説
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概要
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In the history of monetary economics, money has been assumed toaffect an economy through two channels. First, money influences realvariables such as output and employment. Second, money affects prices. J. M. Keynes and J. Steuart are among those economists who propoundthe former point of view, whereas quantity theorists maintain thelatter.The key proposition in the quantity theory of money is the neutralityof money. According to this theory, it is only the level of prices, and notthe level of real variables, that is affected by a change in money supply.However, quite a few quantity theorists propose a theory suggesting arelationship between money and real variables as well, albeit in theshort run. They maintain that a change in money supply stimulates realoutput or employment in the short run, owing to sticky prices (or stickynominal wages) or money illusion. In other words, these theorists holdthe long-run theorem about neutral money as a core proposition, whilemaintaining the short-run theory about the real effects of money as anauxiliary theory.Thus, monetary economics spans a wide range from Keynes, whodenies the quantity theory and accepts the real effects of money onoutput, to Ricardo, who insists on a strict quantity theory of moneywithout scope for the short-run real effects. Most quantity theorists,including D. Hume, H. Thornton, and I. Fisher, support both the long-runneutral-money theory as well as the short-run real-effects theory,thus occupying an intermediate position. In addition to the exogenoustheory discussed above, there also exists an endogenous theory ofmoney.
- 法政大学経済学部学会の論文
- 2006-08-00
法政大学経済学部学会 | 論文
- 社会主義的経済統合としてのコメコン
- 補足1 過渡期の社会主義と「分業の廃棄」 (中国社会主義における「分業の廃棄」(シンポジウム))
- 「統計の品質」論におけるデータ品質構成要素の検討
- えにし
- 経済学部生のための法学入門