西方当代货币经济模型述评

On Contemporary Western Monetary Economy Models

效用函数中的货币模型、货币先行模型和购物时间模型是当代西方宏观经济学中3种常用货币经济模型。3种模型均显示了稳态中货币具有正价值和货币中性或超中性关系,可以利用这些模型来考察通货膨胀对稳态福利水平的影响。但3者对货币具有效用的说明均显不足,忽视了通货膨胀对政府收入的影响,没有引入工资粘性这一主要事实。

Money-in-the-utility model,cash-in-advance model and shopping-time model are three popular models of monetary economy in contemporary western maceoeconomics. All three models exhibit positive value and neutrality or superneutrality of money in steady state. These models can be used for studying the effect of inflation on steady-state welfare. However,they do not provide convincing explanations for contributing utility to money,neglect effect of inflation on government revenues and do not take into consideration the major fact that wages are sticky.