罗伯特卢卡斯获奖演讲《货币中性》.pdf

罗伯特卢卡斯获奖演讲《货币中性》.pdf

ID:52896749

大小:613.85 KB

页数:20页

时间:2020-03-31

罗伯特卢卡斯获奖演讲《货币中性》.pdf_第1页
罗伯特卢卡斯获奖演讲《货币中性》.pdf_第2页
罗伯特卢卡斯获奖演讲《货币中性》.pdf_第3页
罗伯特卢卡斯获奖演讲《货币中性》.pdf_第4页
罗伯特卢卡斯获奖演讲《货币中性》.pdf_第5页
资源描述:

《罗伯特卢卡斯获奖演讲《货币中性》.pdf》由会员上传分享,免费在线阅读,更多相关内容在工程资料-天天文库

1、MONETARYNEUTRALITYPrizeLecture,December7,1995byROBERTE.LUCAS,JR*UniversityofChicago,USAINTRODUCTIONTheworkforwhichIhavereceivedthisprizewaspartofanefforttounder-standhowchangesintheconductofmonetarypolicycaninfluenceinfla-tion,employment,andproduction.Somuchthou

2、ghthasbeendevotedtothisquestionandsomuchevidenceisavailablethatonemightreasonablyassumethatithadbeensolvedlongago.Butthisisnotthecase:Ithadnotbeensolvedinthe1970swhenIbeganmyworkonit,andevennowthisquestionhasnotbeengivenanythinglikeafullysatisfactoryanswer.Inthi

3、slectureIwilltrytoclarifywhatitisabouttheproblemofbringingavailableevidencetobearontheassessmentofdifferentmonetarypoliciesthatmakesitsodifficult,andtoreviewtheprogressthathasbeenmadetowardsolvingitinthelasttwodecades.Fromthebeginningsofmodernmonetarytheory,inDa

4、vidHume’smar-velousessaysof1752,OfMoneyandOfInterest,conclusionsabouttheeffectofchangesinmoneyhaveseemedtodependcriticallyonthewayinwhichthechangeiseffected.Informulatingthedoctrinethatwenowcallthequantitytheoryofmoney,Humestressedtheunits-changeaspectofchangesi

5、nthemoneystock,andtheirrelevanceofsuchchangestothebehaviorofrationalpeople.“Itisindeedevident,”hewroteinOfMoney,“thatmoneyisnothingbuttherepresentationoflabourandcommodities,andservesonlyasamethodofratingorestimatingthem.Wherecoinisingreaterplenty,asagreaterquan

6、tityofitisrequiredtorepresentthesamequantityofgoods,itcanhavenoeffect,eithergoodorbad...anymorethanitwouldmakeanalte-rationonamerchant’sbooks,if,insteadoftheArabianmethodofnotation,whichrequiresfewcharacters,heshouldmakeuseoftheRoman,whichrequiresagreatmany.”(p.

7、28)1Hereturnstothisideathatchangesinthequantityofmoneyarejustunits*IthankNancyStokeyforinvaluablediscussionandcriticism.IamalsoverygratefulforcommentsfromWilliamBrock,JohnCochrane,MiltonFriedman,AnilKashyap,RandallKroszner,CaseyMulligan,SherwinRosen,AllenSanders

8、on,ThomasSargent,JohnTaylor,NeilWallace,WarrenWeber,andJörgenWeibull.1AllpagereferencestoHumesessaysaretoHume(1970).Ihaveleftthespellingasintheoriginalandmodernizedth

当前文档最多预览五页,下载文档查看全文

此文档下载收益归作者所有

当前文档最多预览五页,下载文档查看全文
温馨提示:
1. 部分包含数学公式或PPT动画的文件,查看预览时可能会显示错乱或异常,文件下载后无此问题,请放心下载。
2. 本文档由用户上传,版权归属用户,天天文库负责整理代发布。如果您对本文档版权有争议请及时联系客服。
3. 下载前请仔细阅读文档内容,确认文档内容符合您的需求后进行下载,若出现内容与标题不符可向本站投诉处理。
4. 下载文档时可能由于网络波动等原因无法下载或下载错误,付费完成后未能成功下载的用户请联系客服处理。