拉尔夫-霍特里被遗忘的宏观经济学先驱

IF 1 Q3 ECONOMICS ECONOMIC AFFAIRS Pub Date : 2024-06-27 DOI:10.1111/ecaf.12647

David Glasner

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引用次数: 0

摘要

本文探讨了拉尔夫-霍特里对货币理论和宏观经济学的贡献，重点是他的货币商业周期理论及其对大萧条的货币解释。与米尔顿-弗里德曼以美国为中心对大萧条的解释不同，霍特里的解释侧重于随着第一次世界大战爆发而崩溃的国际金本位制以及恢复金本位制的尝试。霍特里敦促在恢复金本位之后，抑制对黄金的货币需求增长，以防止黄金升值和通货紧缩。但法国在 1928 年蓄意积累黄金以及美联储提高利率，导致了霍特里所预见的毁灭性通货紧缩。文章随后批判性地评价了最近在 Hetzel（2023 年）和 Mattei（2022 年）的著作中对霍特里贡献的讨论。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Ralph Hawtrey: A forgotten pioneer of macroeconomics

This article considers the contributions of Ralph Hawtrey to monetary theory and macroeconomics, focusing on his monetary business cycle theory and his monetary explanation of the Great Depression. Unlike Milton Friedman's US-centred explanation of the Great Depression, Hawtrey's was focused on the international gold standard that collapsed with the outset of World War I and the attempt to restore it. Hawtrey urged that, after restoration of the gold standard, increased monetary demand for gold be restrained to prevent gold appreciation and deflation. But deliberate French gold accumulation in 1928 and interest-rate increases by the Federal Reserve, led to the ruinous deflation foreseen by Hawtrey. The article then critically evaluates recent discussions of Hawtrey's contributions in books by Hetzel (2023) and Mattei (2022).

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来源期刊

ECONOMIC AFFAIRS ECONOMICS-

CiteScore

1.40

自引率

14.30%

发文量

期刊介绍： Economic Affairs is a journal for those interested in the application of economic principles to practical affairs. It aims to stimulate debate on economic and social problems by asking its authors, while analysing complex issues, to make their analysis and conclusions accessible to a wide audience. Each issue has a theme on which the main articles focus, providing a succinct and up-to-date review of a particular field of applied economics. Themes in 2008 included: New Perspectives on the Economics and Politics of Ageing, Housing for the Poor: the Role of Government, The Economic Analysis of Institutions, and Healthcare: State Failure. Academics are also invited to submit additional articles on subjects related to the coverage of the journal. There is section of double blind refereed articles and a section for shorter pieces that are reviewed by our Editorial Board (Economic Viewpoints). Please contact the editor for full submission details for both sections.