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題名 | 可貸貨幣說貨幣供給理論=A Theory of Loanable Money Supply |
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作者 | 陳文久; Chen, Van-jeou; |
期刊 | 社會科教育學報 |
出版日期 | 20000500 |
卷期 | 3 民89.05 |
頁次 | 頁63-91 |
分類號 | 561.1 |
語文 | chi |
關鍵詞 | 貨幣總量; 貨幣供給量; 可貸貨幣供給; 貨幣需要; 貨幣需求; Quautity of money; Money supply; Supply of loanable money; Demand for money; Money need; |
中文摘要 | 本文證明Keynes將貨幣供給量定義為貨幣總量是一項錯誤,因為貨幣總量中沒有涉及借貸的強力貨幣不會影響利率,將貨幣供給量定義改為貨幣總量超出強力貨幣的數量,並將影響貨幣供給量的外生變數予內生化後,本文共獲五項新論點:一、貨幣數量恆等式非貨幣需求函數而是貨幣的“準”生產函數;二、貨幣供給量主要隨所得與財富的增加而增加;三、Keynes主張儲無法直接影響利率是錯誤;四、Keynes主張貨幣需求決貨幣供給是錯誤因為貨幣市場失衡是常態;五、流動性偏好理論為無意義的理論因為其貨幣需求為零。 |
英文摘要 | This paper develops a supply theory of loanable money in which the supply of money is defined us being the excess of the quantity of money over the quantity of high power money. The theory predicts that the money supply is positively related to income and wealth, and that savings can exert direct influence in the interest rate. The theory also predicts that the quantity theory of money is not a theory of demand for money but a “quasi” production function of money, and that money demand can’t determine money supply. Moreover, it is also shown that Keyne’s liquidity preference theory is a nonsense theory with zero demand, and that his definition of money supply is at fault. |
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