Texa de juror, preferência pela liquidez e fundos de empréstimo : uma análise crítica das tentativas de demonstração da equivalência entre a teorias dos fundos de empréstimos e de preferência pela liquidez
By: OREIRO, José Luiz
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ArticlePublisher: São Paulo : Editora 34, abr./jun. 2001Revista de Economia Política = Brazilian Journal of Political Economy 21, 2 , p. 117-133Abstract: This article presents the atempts to demonstrate the equivalence between loanable funds and liquidity preference theories of interest rate done by Hicks, Lerner, Tsiang and Patinkin in order to show that these attempts were not suceed. That is so because these atempts had started from wrong conceptions about what are the issues under discussion in the debate between loanable funds and liquidity preference theories or because they had misrepresented one or another of both theories. In fact, the atempts done by Hicks and Patinkin desconsider the fact that what is essential in this debate was the mechanism by which saving and investment decisions have influence in the determination of interest rate. By the other side, the atempts of Lerner and Tsiang misrepresent the relation between saving and investment and the finance motive of demand for money that is supposed by both theories
This article presents the atempts to demonstrate the equivalence between loanable funds and liquidity preference theories of interest rate done by Hicks, Lerner, Tsiang and Patinkin in order to show that these attempts were not suceed. That is so because these atempts had started from wrong conceptions about what are the issues under discussion in the debate between loanable funds and liquidity preference theories or because they had misrepresented one or another of both theories. In fact, the atempts done by Hicks and Patinkin desconsider the fact that what is essential in this debate was the mechanism by which saving and investment decisions have influence in the determination of interest rate. By the other side, the atempts of Lerner and Tsiang misrepresent the relation between saving and investment and the finance motive of demand for money that is supposed by both theories
Revista de Economia Política 2001
v. 21, n. 2(82)
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