Die Zeitstruktur des monetaristischen Konjunkturmodells von Laidler: Kritik und Modifikation. (With English summary.)

In: Zeitschrift fur Wirtschafts- und Sozialwissenschaften, Jg. 111 (1991), S. 91-96
Zeitschriftenaufsatz / Fach: Wirtschaftswissenschaften
In D. Laidler's monetarist business cycle model, the time reference of the expected growth factor of price level is not clearly specified. Thus, there exist two possibilities of its interpretation. In both cases, the time structure of the model leads to shortcomings in its decision theoretical foundation. These weaknesses can be solved with reference to the monetarist paradigma and other concept of competitive temporary equilibrium without altering the dynamic properties of the model.