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Die Zeitstruktur des monetaristischen Konjunkturmodells von Laidler: Kritik und Modifikation
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 111 (1991), Iss. 1 : pp. 91–96
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Assenmacher, Walter
Cited By
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Begründung der monetaristischen Geldmengenregel mit Hilfe einer Formalisierung des Konjunkturmodells von Milton Friedman
Wolfgang, Patzig,
Credit and Capital Markets - Kredit und Kapital, Vol. 30 (1997), Iss. 1 P.81
https://doi.org/10.3790/ccm.30.1.81 [Citations: 0]
Abstract
In Laidler's monetarist business cycle model the time reference of the expected growth factor of price level is not clearly specified. Thus there exist two possibilities of its interpretation. In both cases the time structure of the model leads to shortcomings in its decision theoretical foundation. These weaknesses can be solved with reference to the monetarist paradigma and to the concept of competitive temporary equilibrium without altering the dynamic properties of the model.