Two Topics in Macroeconomics

该项目由两部分组成。第一个问题涉及对先前货币经济学基础研究的扩展。这项研究将正式解决交换是如何发生的，以及哪些对象将扮演货币或交换媒介的角色。在抽象经济模型中理解大宗商品和法定货币的发展方面，已经取得了很大进展。进一步的工作包括解决与理论模型有关的一些技术问题，甚至更重要的是，开发可用于解决实质性问题的框架的简化版本，包括货币经济学中的政策问题。这项研究的第二部分是调查将家庭生产部门明确纳入宏观经济活动模型的一些影响。一些初步分析表明，在一个原本标准的商业周期模型中，家庭生产可以产生重要的定性和定量影响。未来的工作包括分析这些商业周期的影响，以及在失业、经济增长和公共财政理论中调查家庭生产的影响。

This project consists of two parts. The first involves the extension of previous research on the foundations of monetary economics. This research will formally address the issues of how exchange takes place and which objects come to play the role of money, or a medium of exchange. Much progress has been made towards understanding the development of both commodity and fiat money in abstract economic models. Further work includes the resolution of some technical issues concerning the theoretical models and even, more importantly, the development of simplified versions of the framework that can be used to address substantive issues, including policy issues in monetary economics. The second part of the study is to investigate some implications of explicitly incorporating a household production sector in models of macroeconomic activity. Some preliminary analysis indicates household production can have an important qualitative and quantitative impact in an otherwise standard model of the business cycle. Future work includes the analysis of these business cycle implications, and the investigation of the impact of household production in theories of unemployment, economic growth, and public finance.