modigliani e keynes
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Abstract
Il primo articolo pubblicato di Franco Modigliani è divenuto uno dei testi base della moderna economia keynesiana. In esso ha formalizzato il modello (o almeno un modello) implicito nella Teoria Generale. Modigliani sosteneva che le caratteristiche conclusioni keynesiane poggiano fondamentalmente sulla (realistica) rigidità dei salari nominali. In particolare, ha mostrato che se i salari e i prezzi fossero flessibili, la teoria della preferenza di liquidità della moneta non potrebbe generare persistente disoccupazione involontaria, ma se i salari fossero rigidi, anche la teoria della quantità della moneta potrebbe farlo. Sessant’anni più tardi Modigliani è tornato a esporre il “vangelo keynesiano” e ha proposto essenzialmente la medesima interpretazione. Questo articolo riconsidera e discute questo approccio alla macroeconomia, con alcuni riferimenti alle sue implicazioni per la politica economica.
The first article published by Franco Modigliani has become one of the basic texts of the modern Keynesian economics. It formalized the model (or at least one model) implicit in the General Theory. Modigliani argued that the characteristics Keynesian conclusions are based primarily on the (realistic) rigidity of nominal wages. In particular, it showed that if wages and prices were flexible, the theory of liquidity preference of money could not generate persistent involuntary unemployment, but if wages were rigid, the theory of the amount of money could do it. Sixty years later Modigliani returned to expose the "Keynesian gospel" and proposed essentially the same interpretation. This article reconsiders and discusses this approach to macroeconomics, with some reference to its implications for economic policy.
JEL Codes: B22, E12
Keywords: Franco Modigliani, verifiche empiriche, ciclo vitale, Keynes, disoccupazione, teoria della spesa
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solow2012monetamodigliani
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| Authors | ;Robert M. Solow |
| Journal | journal of plant resources and environment |
| Year | 2012 |
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