【ECON20151216】
宏观经济学研讨会 （总第189期）

【时间】2015年10月28日（周三）12：15－13：45
【地点】明商0502教室
【主讲】韩少华 中国人民大学汉青经济与金融高级研究院
【主题】Reconciling Hayek`s and Keynes` Views of Recessions ( P. Beaudry, et al. CEPR Discussion Paper , 2014)
【摘要】Recessions often happen after periods of rapid accumulation of houses, consumer durables and business capital. This observation has led some economists, most notably Friedrich Hayek, to conclude that recessions mainly reflect periods of needed liquidation resulting from past over-investment. In contrast, ever since the work of Keynes, many economists have viewed recessions as periods of deficient demand that should be countered by activist fiscal policy. In this paper we reexamine the liquidation perspective of recessions in a setup where prices are flexible but where not all trades are coordinated by centralized markets. We show why liquidations can produce periods where the economy functions particularly inefficiently, with many socially desirable trades between individuals remaining unexploited when the economy inherits too many capital goods.
【主持】陈彦斌 教授


人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。
联系人：刘哲希    Email：Macro_Workshop@163.com
资料下载：www.docin.com/mydoc-88265459-1.html




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