Clark-Walrasian 순환모델 비판

• 영문명: The Critique of ClarkㆍWalrasian Circular Model: The Reappraisal Austrian
• 발행기관: 건국대학교 경제경영연구소
• 저자명: 조용래(Youngnae Cho)
• 간행물 정보: 『상경연구』제21권, 35~54쪽, 전체 20쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1996.08.15

영문 초록

The ClarkㆍWalrasian Model, as reflected in circular flow diagram, forms the foundation of Keynesian, as well as Monetarist. This treatise began with a critique of Keynesian macroanalysis. In Keynes the structure of production, defined as distribution of capital among industries, is assumes to be given. So the production process stands in no relation with time. The only factor which determines the change in the production activities, is the labor. In keynes the labor unit, as a matter of definition, measures the level of employment, which is direct propotional to the changes in the demand for final output. The determination of absolute magnitude of aggregate demand is then the major issue in Keynesian macroeconomics. The supply side is implicity ignored. Monetarists are not in disagreement with Keynesian, so far they are demand oriented and tend to ignore the supply effect. In Walrasian framework Money’s effect can only be neutral, i.d. money is given no role in determining the relative prices. Therefore, both approaches are not appropriate to analysis the resource allocation, so the inflationary process properly. The Austrian contributions are two-fold, first, it takes the factor capital into the production process : second, the non neutrality of money. Therefore, in short, the capital intensity determines the length of production process and the money plays a role in the pricing process. As the production is disaggregated in-to the different stages, the money permeates through the system. The price signals so generated induce the production of appropriate combinations of capital goods. The emphasis placed on these price signals are distinguishing feature of Austrian. The Austrian approach to money effects are therefore better appropriate not only to analyse the proper inflationary process, but also its dynamic nature, for the analysis of growth and business cycle process.

목차

Ⅰ. 서론

Ⅱ. Clark-Walras의 순환모델

Ⅲ. Austrian의 화폐순환도

Ⅳ. 요약 및 결론

Reference

SUMMARY