学術雑誌論文

本学関連学会

text

大阪大学経済学. 2007, 57(3), p. 73-89

日本語

text

2007-12

In this paper I examine A. C. Pigou’s views on the unemployment policies, assuming tha this theory of business cycle was one integral part of his theory of unemployment. In his Industrial Fluctuations (1927), Pigou gave the most extensive treatment to monetary policy among all policies against business cycle. He suggested more prompt and smooth action by the Bank of England in order to effectively stabilize general prices and the economy as a whole. Moreover Pigou thought that, if the public opinion and international relation allowed, Britain should withdraw from the gold standard so domestic monetary policy could not be affected by foreign monetary shocks. In contrast Pigou placed much less importance on wage adjustment as a relief measure of the working class from unemployment. This conclusion and other evidences enable us to question the discussion―which is often seen in recent literature―that Pigou believed that because of the institutional changes in the labor market, money wages had become rigid after WWI and this was resposible for mass unemployment. This picture, however, lacks a more important element: the deflationary influence due to the gold standard. Putting his indirect remarks on this influence together, I argue that Pigou was well aware of the monetary situation and placed the greater importance on the monetary influence than the wage rigidity.

10.18910/16471

16471

ピグーの失業論 : 景気変動論との関連において

高見, 典和

大阪大学経済学会

日本語

2007-12

大阪大学経済学

57

3

73

89

https://hdl.handle.net/11094/16471

10.18910/16471

https://doi.org/10.18910/16471