頁籤選單縮合
題 名 | 金融不穩定性分析:Taylor and O'Connell模型之研究=Analysis of Financial Instability Based on the Taylor and O'connell Model |
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作 者 | 林照雄; | 書刊名 | 銘傳學刊 |
卷 期 | 15 民95.05 |
頁 次 | 頁15-37 |
分類號 | 562 |
關鍵詞 | 金融不穩定性; 預期利潤率; Financial instability; Expected profit ration; Minsky crisis; |
語 文 | 中文(Chinese) |
中文摘要 | 本文旨在分析Taylor and O'Connell模型(簡稱TO模型)發生金融不穩定之條件,進一步探討TO模型以後若干代表性的金融不穩定模型之特徵與問題。分析結果主要發現:短期均衡解滿足以下條件時則屬穩定。 1、當LM曲線向右上方延伸時,(1)股票需要對預期利潤率比貨幣需要較具彈性。(2)貨幣供給對財政赤字比率大。 2、當LM曲線向右下方傾斜時,(1)貨幣與股票的替代性高。(2)貨幣需要與股票需要對債券利率比預期利潤率較具彈性。(3)貨幣供給對財政赤字比率小。 |
英文摘要 | The intention of this study is to analyze the required conditions for incurring financial instability based on the Taylor and O'Connell (TO) model, in the meantime, to illustrate all the important features and problems accompanying the TO model. The major findings from this study can be summarized as that, while the following conditions can be satisfied, the equlitrium solution in the TO model can have a short-term stability. 1. When the LM curve extends right and upward, and with respect to the expected profit ratio, deman on common stocks can be more elastic than demands on money. Furthermore, the ratio of money supply to government deficit has to be large. 2. when the LMcurve extends right and downwards, and the degree of substitution is high between money and common stocks. Demand on money and common stocks are more elastic with respect to the expected profit ratio instead of bonds' yields, and the ratio of money supply to government deficit has to be small. |
本系統中英文摘要資訊取自各篇刊載內容。