当代西方货币经济理论发展述评

Review of Contemporary Western Monetary Economy Models

新古典经济学将价值理论与货币理论割裂开来,此后,如何使货币具有正价值并将其同价值理论重新融合起来就成为货币理论家关注的焦点。20世纪70年代后,涌现出众多具有微观基础的现代货币理论模型,其中以效用函数中的货币模型、货币在先模型、世代交叠模型、货币搜寻模型及新兴古典货币模型最为典型。尽管这些模型还远没有完全洞悉货币与实际经济变量之间的关系,但它们的货币经济分析,对于我们更好地研究货币和进行货币的政策效应分析非常重要,特别是新兴古典货币模型,它较好地将货币理论和价值理论统一起来,为货币经济理论的进一步发展提供了较好的研究方向。

After neo-classical economics separated value theory from monetary theory, how to restore the currency＇s positive value and to reconnect it with value theory became a focus of monetary theorists＇ concern. Since 1970s, there have appeared quite a few contemporary models of monetary economy with micro foundation, of which money-in-the-utility function model, cash-in-advance model, overlapping generation model, search model of money and new classical model of money are very popular. Although such models are not satisfactory enough to discover the relationship between money and actual economic variables, their monetary economic analysis is conducive to the research into money and money＇s policy effect. In particular, the new classical models of money give the direction of further research into monetary economic theories.