貨幣の保蔵

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URI http://shark.lib.kagawa-u.ac.jp/kuir/metadata/4252
Title
貨幣の保蔵
Title Alternative
On ""Hoarding""
File
Description

We study Lerner's definition of ""hoarding"" which means the actual increase of cash-holding. In his definition, it is impossible for ""hoarding"" to increase when the quantity of money is constant, but we define ""hoarding"" as ""idle balances"" or holding at the expense of ""active balance's"". And so our ""hoarding"" can increase although the quantity of money is the same. Keynes' saving is always equal to investment and ""hoarding"" is always impossible so long as the quantity of money remains the same. But this does not mean that they are always in equilibrium. Desired saving is not always equal to desired investment. Keynes' saving (from current income) is equal to Robertsonian saving (from yesterday's income) minus ""hoarding"" and credit contraction. In equilibrium, Keynes' desired saving is equal to investment and Robertsonian ""hoarding"" becomes zero. But this does not mean that ""hoarding"" is impossible in equilibrium. Increase of ""hoarding"" results in a fall of income-level and increase in idle balances. It is one of the inconsistencies of Keyne's theory that ""hoarding"", though impossible by definition, has assigned to it an important role.

Author
著者 金森 恒利
著者(ヨミ) カナモリ ツネトシ
著者(別表記) Kanamori Tsunetoshi
Publication Title
香川大学経済論叢
Volume
27
Issue
4
Start Page
63
End Page
78
Publisher
香川大学経済研究所
Published Date
195502
ISSN
0389-3030
NCID
AN00038281
Resource Type
Departmental Bulletin Paper
Language
jpn
Text Version
publisher
Set
香川大学
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