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AA00260492-19870002-0001.pdf
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Title |
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HOARDING ON THE WING
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Bronfenbrenner, Martin
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Aoyama Gakuin University, University of California
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Keio Economic Society, Keio University
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1987
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Keio economic studies
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24
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2
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1987
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1
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10
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This essay seeks to expand macroecomics to take more explicit account of the market for non-monetary assets. It uses a "circuit" terminology. The income-expenditure flow is one circuit; the flow of savings and credits through the money market, a second; the flow of savings and capital gains through the asset market, a third. Flows through these circuits can be related either sympathetically or antagonistically. Switches between them, particularly switches between the first circuit and either of the others, can be important elements in economic fluctuations. Furthermore, policies planned to stimulate or to sedate one market tend to be diverted into one or more others.
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Jul 30, 2012 | | フリーキーワード を変更 |
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