The Harrod-Domar (H-D) theory of economic growth was the first to question the amount investment must rise to permit continuous full employment equilibrium income growth (Harrod, The Economic Journal, 1939; Domar, Econometrica, 1946). In short, H-D developed the equation specifying the growth rate of investment necessary to permit capital to remain fully employed. Growth theory itself has grown with many authors following the lead of Solow and Swan (Solow, Quarterly Journal of Economics, 1956; Swan, Economic Record, 1956). The initial model has been criticized for several reasons. The absence of labor market considerations and the assumption of a fixed capital-output ratio are two examples. In spite of the criticisms, this model was the first to present the critical dual role of investment as demand-creating and supply-creating. Previous works (Hochstein, International Advances in Economic Research, 2006; 2017) depicted how the initial H-D model can be illustrated on a production possibility curve and incorporated into the investment savings liquidity preference money supply (IS,LM) structure. Hochstein (International Advances in Economic Research, 2006) shows that the model can be illustrated by computing the investment amount necessary to permit a free market to jump from a point on one production possibility curve to another point on a shifted curve. Hochstein (International Advances in Economic Research, 2017) outlines the important role of the moneymarket, represented by the LM curve. It is argued that if the model starts off in the liquidity trap region of the LM curve and the investment demand curve increases, shifting the IS curve, interest rates remain constant and the money market does not cause issues of concern. If the world begins in the intermediate range of the LM curve, as investment shifts, income rises, interest rates rise and crowd out some investment intentions. In the classical range, higher interest rates completely crowd Int Adv Econ Res https://doi.org/10.1007/s11294-020-09784-2

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Harrod-Domar 模型、货币市场和投资需求曲线的弹性

Harrod-Domar (HD) 经济增长理论是第一个质疑投资额必须增加才能实现持续充分就业均衡收入增长的理论（Harrod，经济期刊，1939 年；Domar，计量经济学，1946 年）。简而言之，HD 开发了一个方程式，指定了允许资本保持充分利用所必需的投资增长率。许多作者追随索洛和斯旺（索洛，经济学季刊，1956 年；斯旺，经济记录，1956 年）。由于几个原因，最初的模型受到了批评。没有劳动力市场的考虑和固定资本产出比的假设是两个例子。尽管受到批评，该模型还是第一个将投资作为创造需求和创造供应的关键双重角色。以前的作品（Hochstein，国际经济研究进展，2006 年；2017 年）描述了如何在生产可能性曲线上说明初始 HD 模型并将其纳入投资储蓄流动性偏好货币供应 (IS,LM) 结构。Hochstein（国际经济研究进展，2006 年）表明，该模型可以通过计算允许自由市场从一条生产可能性曲线上的一点跳到移动曲线上的另一点所需的投资额来说明。Hochstein（国际经济研究进展，2017 年）概述了货币市场的重要作用，以 LM 曲线为代表。有人认为，如果模型从 LM 曲线的流动性陷阱区域开始，并且投资需求曲线增加，使 IS 曲线移动，利率保持不变，货币市场不会引起关注。如果世界开始于 LM 曲线的中间区间，随着投资的转移，收入增加，利率上升并排挤一些投资意向。在经典范围内，更高的利率完全挤满了 Int Adv Econ Res https://doi.org/10.1007/s11294-020-09784-2