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The part played by general equilibrium in the liquidity preference vs loanable funds episode (1936–1956)
The European Journal of the History of Economic Thought ( IF 0.514 ) Pub Date : 2021-03-22 , DOI: 10.1080/09672567.2021.1893778
Pascal Bridel

Abstract

Using as a test the drawn-out liquidity preference vs loanable funds debate between 1936 and 1956, this paper pursues two lines of inquiries: to illustrate first the progressive conquest of Keynesian macroeconomics by general equilibrium techniques to build the neoclassical synthesis; and, second, to evaluate the epistemological status of the general equilibrium model used by the various debaters who were still confused about the connections between formal models and interpretative contents; hence, they systematically overestimated general equilibrium explanatory capabilities.



中文翻译:

一般均衡在流动性偏好与可贷资金之间的作用(1936-1956)

摘要

本文使用 1936 年至 1956 年间关于流动性偏好与可贷资金的争论作为检验,进行了两条探究:首先说明通过一般均衡技术逐步征服凯恩斯主义宏观经济学以建立新古典综合;其次,评估仍然对形式模型和解释内容之间的联系感到困惑的各种辩论者所使用的一般均衡模型的认识论地位;因此,他们系统地高估了一般均衡的解释能力。

更新日期:2021-03-22
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