{"created":"2021-03-01T06:34:15.781077+00:00","id":16972,"links":{},"metadata":{"_buckets":{"deposit":"988a4019-5aa3-4a7b-9ffb-bde18aec1ac9"},"_deposit":{"id":"16972","owners":[],"pid":{"revision_id":0,"type":"depid","value":"16972"},"status":"published"},"_oai":{"id":"oai:repository.dl.itc.u-tokyo.ac.jp:00016972","sets":["55:864:892:900","9:504:867:894:901"]},"item_4_alternative_title_1":{"attribute_name":"その他のタイトル","attribute_value_mlt":[{"subitem_alternative_title":"Multiple Equilibria in Lucas (1972) Model"}]},"item_4_biblio_info_7":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2011-11-01","bibliographicIssueDateType":"Issued"},"bibliographicIssueNumber":"1","bibliographicPageEnd":"109","bibliographicPageStart":"91","bibliographicVolumeNumber":"63","bibliographic_titles":[{"bibliographic_title":"社會科學研究"}]}]},"item_4_description_5":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"Lucas (1972) はマクロモデルに情報の不完全性を導入することで，古典的な貨幣の中立性とフィリップス曲線における失業とインフレ率の関係を矛盾なく説明した．そこでは，貨幣供給量自体は，その水準に比例する形で物価が変化するため，実体経済に影響を及ぼさない．これは貨幣数量説の成り立つことを意味する．一方で，予期せぬ貨幣的ショックは，それが実体的（リアル）なショックと区別できないために，実体経済に影響を与える．このことから失業は（予見できる）金融政策により，操作可能でないことが結論づけられる．ところが，実は貨幣数量説の成り立つ均衡物価関数は存在のみ証明され，一意性は証明されていないことが分かった（Lucas (1983)）．その上それを否定的に解決するものとして，モデルをより簡単化した枠組みのもとで，貨幣非中立的な均衡解の具体例が得られている（Chiappori and Guesnerie (1990, 1992)）．本稿では（制限を加えない一般の）Lucas (1972) のモデルにおいても，均衡物価関数は一般に貨幣中立的でないことを解析的に示す．ここから，当初Lucas (1972) が主張したような貨幣の中立性が成立する均衡は特別な場合であることが分かる．そして金融政策により操作可能な貨幣供給量が実体経済にどのような影響を与えるか分析する．さらに，均衡で貨幣が非中立的となるための十分条件を提示する．","subitem_description_type":"Abstract"},{"subitem_description":"Lucas (1972) studied a stochastic overlapping generations model under the assumption of incomplete information and showed the existence of an equilibrium price function which exhibits the neutrality of money. In the economy since principal agents cannot distinguish between monetary disturbances and real ones, unexpected money supply causes 'rational agents'to take hedging behavior and hence it affects the real economy. Therefore, the model succeeds to explain the Phillips curve, an empirical fact that the rate of inflation is negatively related with the unemployment rate, consistently with the quantity theory of money. However, Jean-Michel Grandmont suggested that the uniqueness of the equilibrium price function had not yet been proved (Lucas (1983)). This was negatively resolved by Chiappori and Guesnerie (1990,1992), who found in a simplified model some examples of equilibrium prices such that money is not neutral. In this paper, we show analytically that multiple equilibria exist in Lucas (1972) model where fiat money is generally not neutral. Consequently, the `Lucas’s islands model’ is found to have much richer structures than we have previously recognized. We examine the effect of change in the money supply in the economy. Sufficient conditions for equilibria such that money is not neutral are also derived.","subitem_description_type":"Abstract"}]},"item_4_description_6":{"attribute_name":"内容記述","attribute_value_mlt":[{"subitem_description":"特集　新しいマクロ経済理論の構築を目指して","subitem_description_type":"Other"}]},"item_4_full_name_3":{"attribute_name":"著者別名","attribute_value_mlt":[{"nameIdentifiers":[{"nameIdentifier":"27061","nameIdentifierScheme":"WEKO"}],"names":[{"name":"MATSUI, Muneya"}]}]},"item_4_publisher_20":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"東京大学社会科学研究所"}]},"item_4_select_14":{"attribute_name":"著者版フラグ","attribute_value_mlt":[{"subitem_select_item":"publisher"}]},"item_4_source_id_10":{"attribute_name":"書誌レコードID","attribute_value_mlt":[{"subitem_source_identifier":"AN00108966","subitem_source_identifier_type":"NCID"}]},"item_4_source_id_8":{"attribute_name":"ISSN","attribute_value_mlt":[{"subitem_source_identifier":"03873307","subitem_source_identifier_type":"ISSN"}]},"item_4_text_21":{"attribute_name":"出版者別名","attribute_value_mlt":[{"subitem_text_value":"Institute of Social Science, The University of Tokyo"}]},"item_4_text_4":{"attribute_name":"著者所属","attribute_value_mlt":[{"subitem_text_value":"南山大学経営学部"}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"松井, 宗也"}],"nameIdentifiers":[{"nameIdentifier":"27060","nameIdentifierScheme":"WEKO"}]}]},"item_files":{"attribute_name":"ファイル情報","attribute_type":"file","attribute_value_mlt":[{"accessrole":"open_date","date":[{"dateType":"Available","dateValue":"2017-06-08"}],"displaytype":"detail","filename":"shk063001007.pdf","filesize":[{"value":"1.2 MB"}],"format":"application/pdf","licensetype":"license_note","mimetype":"application/pdf","url":{"label":"shk063001007.pdf","url":"https://repository.dl.itc.u-tokyo.ac.jp/record/16972/files/shk063001007.pdf"},"version_id":"d7bbd853-1522-44a6-aaef-657db70c01fa"}]},"item_keyword":{"attribute_name":"キーワード","attribute_value_mlt":[{"subitem_subject":"貨幣の中立性","subitem_subject_scheme":"Other"},{"subitem_subject":"動学的マクロモデル","subitem_subject_scheme":"Other"},{"subitem_subject":"フィリップス曲線","subitem_subject_scheme":"Other"},{"subitem_subject":"貨幣数量説","subitem_subject_scheme":"Other"},{"subitem_subject":"不完全情報","subitem_subject_scheme":"Other"},{"subitem_subject":"ミクロ的基礎付け","subitem_subject_scheme":"Other"}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"jpn"}]},"item_resource_type":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"resourcetype":"departmental bulletin paper","resourceuri":"http://purl.org/coar/resource_type/c_6501"}]},"item_title":"Lucas(1972)のモデルにおける貨幣の非中立性","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"Lucas(1972)のモデルにおける貨幣の非中立性"}]},"item_type_id":"4","owner":"1","path":["900","901"],"pubdate":{"attribute_name":"公開日","attribute_value":"2016-11-20"},"publish_date":"2016-11-20","publish_status":"0","recid":"16972","relation_version_is_last":true,"title":["Lucas(1972)のモデルにおける貨幣の非中立性"],"weko_creator_id":"1","weko_shared_id":null},"updated":"2022-12-19T03:55:51.530079+00:00"}