Notice bibliographique
Résumé
Originating with James Tobin's initial treatment of money as a second asset in the Solow one-sector growth model, the subject of money and growth has received a great deal of attention in the recent literature. Tobin's emphasis on portfolio balance to determine the equilibrium of the model provides a useful framework for the discussion of the development of two opposing schools of thought among recent writers on the subject of money and growth. The neoclassical approach follows Tobin in his emphasis on portfolio balance and includes contributions by Miguel Sidrauski and Harry Johnson, among others. A cogent and comprehensive statement of the neoclassical viewpoint can be found in the excellent survey by David Levhari and Don Patinkin. The second approach the Keynes-Wicksell approach --as expounded by Jerome Stein in particular, and also including contributions by Hugh Rose and Keizo Nagatani, faults the neoclassical model on two basic and related points. They are the implications of the model for the dynamics of price change, and the lack of independent savings and investment decisions. The neoclassical approach is characterized by the assumption that desired per capita real balances are always held-prices must adjust instantaneously to assure portfolio balance. A given rate of expansion of the nominal money stock combined with the exogenously given rate of population growth serves to determine the equilibrium rate of inflation consistent with asset equilibrium. The division of assets between money and physical capital is thereby determined, and there need be no specification of an independent investment function all physical savings are instantaneously channelled into capital accumulation, and the desired capital stock is always held.' The long-run properties of the neoclassical model allow for the coexistence of nonzero steady-state inflation and goods market equilibrium by specifying that excess demand for goods causes a departure from the steady-state rate of inflation, but is not a necessary condition for a nonzero inflation rate at any point in time. It is contended that, in a dynamic world, there are two forces operating to drive the price level-excess demand for goods and inflationary expectations. In steady state, excess demand is zero; actual inflation equals expected inflation, not necessarily zero; and the possibility of nonzero steady* Queen's University. This paper was written while I was a graduate student at the University of Chicago. My understanding of the issues has been greatly improved by many discussions with Rudiger Dornbusch, Stanley Fischer, and Michael Mussa. I also wish to thank members of workshops at the University of Chicago, University of Rochester, and York University, and to participants in the Chicago Symposium on Trade, Growth, and the Balance of Payments (University of Chicago, December 1970) for helpful comments on an earlier version of this paper. Jerome Stein, George Borts, and an anonymous referee provided very useful comments for which I am most grateful. Of course, I am responsible for any remaining errors. Financial support from the Canada Council is gratefully acknowledged. I A puzzling result of Tobin's initial treatment is that the introduction of money into the barter model lowered the capital intensity and output per capita. I have recently tried to analyze this seemingly paradoxical result elsewhere (see Purvis).
Récupéré en direct depuis OpenAlex et désinversé. Les résumés ne sont pas conservés dans cette base de données : les index inversés représentent 8,6 Go des 9,3 Go de texte de la base, et le serveur dispose de 13 Go libres.
Comment cette classification a été obtenuedéplier
Prédiction distillée sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.
Scores Codex et Gemma par catégorie
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,001 | 0,000 |
| Méta-épidémiologie (sens strict) | 0,000 | 0,000 |
| Méta-épidémiologie (sens large) | 0,001 | 0,000 |
| Bibliométrie | 0,000 | 0,000 |
| Études des sciences et des technologies | 0,000 | 0,000 |
| Communication savante | 0,000 | 0,000 |
| Science ouverte | 0,000 | 0,000 |
| Intégrité de la recherche | 0,000 | 0,000 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,000 | 0,000 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule tête enseignante, pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».