Stock and Flow Analysis: Comment

Stock and Flow Analysis: Comment

Dr. KLEIN sets up a model which includes among its variables the rate of interest. In the static case, he finds that the results as to the relation between the loanable funds and liquidity preference theories are empty. In the dynamic case, he finds that the loanable funds theory does not appear at...

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Veröffentlicht in:Econometrica 1950-07, Vol.18 (3), p.242-245
Hauptverfasser: Fellner, William, Somers, Harold M.
Format: Artikel
Sprache:eng
Schlagworte:
Demand change
Demand loans
Equilibrium
Excess demand
Interest
Interest rates
Liquidity preference
Loanable funds theory of interest
Loans
Securities markets
Stock analysis
Supply
Supply and demand
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Zusammenfassung:Dr. KLEIN sets up a model which includes among its variables the rate of interest. In the static case, he finds that the results as to the relation between the loanable funds and liquidity preference theories are empty. In the dynamic case, he finds that the loanable funds theory does not appear at all. He concludes that we were in error in claiming that the two theories were equivalent in general and he traces our error to a confusion of stocks and flows.
ISSN:0012-9682
1468-0262
DOI:10.2307/1905796