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《(1968,Brunner,FRBSR)Role of money and monetary policy》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、y,.:_.:_~.....~Ma,aaaeaa.aaAgi.,ava-.,.--.“n.IM~,4~th~xg~a..ahi¼nAMWk.a-.._.&fr.,A.e..~,.Editor’sNoteto“TheRoleofMoneyandMonetaryPolicy”ThefollowingisaguestarticlepreparedbyDr.KarlBrunner.SinceJuly1966,Dr.BrunnerhasbeentheEverettD.ReeseProfessorofEconomicsatTheOhioStateUniver-sity
2、.ForthepreviousfifteenyearshewasProfessorofEconomicsattheUniversityofCaliforniaatLosAngeles.inthisarticleDr.Brunnerexaminesthecurrentstatusofthedebateregardingtheroleofmoneyandmonetarypolicyineconomicstabilizationactions.ItispresentedinthisReviewwiththeanticipationthathisexaminati
3、onoftheissuesinvolvedinthisdebatewillbringforthfurtherdiscussionbyproponentsofthevariousviews.Suchdiscussionsareessentialfordevelopmentoftheframeworkrequiredforrationalstabilizationpolicy.Dr.Brunnerandseveralotherwell-knowneconomistshavebeenleadingproponentsofthemonetaryviewofecon
4、omicstabilization.Onthebasisofagreatamountoftheo-reticalandempiricalresearch,theycontendthattheFederalReservecancontrolthemoneystockandthatthemoneystockisagoodindicatorofthethrustofFederalReserveactionsonoutput,employment,andprices.Theseeconomistshavebeencriticaloftheroleplayedbyt
5、heFederalReserveSysteminmonetarymanagementbecausetheyhavefoundlittleevidencethattheSystemhasrecognizedtheimportanceofmoneyincarryingoutitsresponsibilityforeconomicstabilization.AcountercritiquetothecriticismsofthesemonetaryeconomistshasbeenpresentedinseveralpublicationsoftheFedera
6、lReserveSystem.Thiscountercritiquederivesitseco-nomicfoundationsfromaso-called“NewView”ofmonetaryeconomics.This“NewView”stressestheroleofassets,bothrealandfinancial,andtherelativepricemechanisminmone-taryanalysis.ThecountercritiquecontendsthattheFederalReservehaslittlecontrolovert
7、hemoneystockandthatthemoneystockplaysonlyaminorroleinthetransmissionmechanismlinkingFederalReserveactionstotherealsectorsoftheeconomy.Dr.Brunner,inthisarticle,analyzesandevaluatesvariousissuesraisedbythecounter-critique.Hepointsoutthatthemaineconomistswhostresstheroleofmoneyandmon
8、etarypolicyalsoutilizetheassetand
