Abstract
Sargent conducted an empirical research on the causal relationship between the economic policy and different macroeconomic variables with the limit point assumed by the economists (rational assumptions) as the hypothesis.But influences of the economic policies on macroeconomic variables depends ultimately on to what extent they alleviateor intensify the internal conflicts in the basic capitalist system, not on the rational expectations of the economists.
In this sense, Sargent's cause and effect research can not explain and solve the serious economic problems that the western countries are face with, while the modern Marxist economics can make it by having thoroughly analyzed the causal relationship in the current economic crisis and its relative theories as well as the problems now faced with.
In this sense, Sargent's cause and effect research can not explain and solve the serious economic problems that the western countries are face with, while the modern Marxist economics can make it by having thoroughly analyzed the causal relationship in the current economic crisis and its relative theories as well as the problems now faced with.
Translated title of the contribution | An Analysis of Sargent's Empirical Research on Cause and Effect in the Macroeconomy: Reflection on the 2011 Nobel Prize in Economic Sciences |
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Original language | Chinese (Simplified) |
Pages (from-to) | 69-76 |
Journal | 当代经济研究 |
Issue number | 11 |
Publication status | Published - 2012 |
Keywords
- 理性预期
- 因果关系
- 宏观经济