期刊名称：IoES Working Paper Series / Institute of Economic Studies, University of Iceland
出版年度：2004
卷号：2004
出版社：niversity of Iceland
摘要：n a set of papers beginning in the 1980s and my 1994 book I have been exploring the
structural sources of lengthy changes, whether swings or permanent shifts, in the course
of business activity. This has meant theoretical analyses and empirical studies of how non-
monetary forces operate through non-monetary channels to alter the path of
employment, unemployment, and hours – in contrast to Keynes and Friedman, who
analyzed only employment effects transmitted through monetary channels. The earliest
part of this research focused on the short-run and longer-run effects of actual changes in
parameters and conditions – the world real interest rate and real oil price, the national rate
of technical progress, the national wealth and domestic capital stock – which are, in turn,
taken to reflect actual changes in current preferences, technologies and state variables.
The latest part, which I am still caught up in, moves the focus to the long-run effects of
economic institutions on employment through their impacts on the creativity and
adeptness of firms.
Loading...
