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Robert Wayne Clower (February 13, 1926 – May 2, 2011) was an American economist. He is credited with having largely created the field of stock-flow analysis in economics and with seminal works on the microfoundations of monetary theory and macroeconomics. ==Major contributions== Clower is credited with having largely created the field of stock-flow analysis in economics.〔• Donald A.Walker, 1984. ''Money and Markets'', Preface, p. (x. ) • Robert W. Clower, 1954a. "An Investigation into the Dynamics of Investment," ''American Economic Review''. 44(l), pp. (64 )-81. • _____, 1954b. "Price Determination in a Stock-Flow Economy" with D. W. Bushaw, ''Econometrica '' 22(3), pp. (328 )-343. • _____, 1957. ''Introduction to Mathematical Economics'', Ch. 3-6. "Section" & arrow-searchable page (links. ) • _____, 1968. "Stock-flow analysis," ''International Encyclopedia of the Social Sciences'', v. 12.〕 In seminal papers that advanced strong methodological positions and set an agenda for subsequent research, Clower formalized and reformulated: * Keynesian theory as disequilibrium analysis in contrast to standard general equilibrium theory, thereby generalizing (or rejecting) Walras' law and standard price theory. To this end, he proposed the 'dual-decision hypothesis' in which realized transaction quantities affect adjustments in output at other than full-employment equilibrium but not at full-employment equilibrium. This, he argued, was implicit in Keynes's work to explain how full-employment equilibrium is only a special case. Such quantity constraints introduce nonlinearities that complicate dynamic stability of the economic system as to full-employment equilibrium and require a distinction between notional and effective demand.〔• Robert W. Clower, 1965. "The Keynesian Counter-Revolution: A Theoretical Appraisal," in F.H. Hahn and F.P.R. Brechling, ed., ''The Theory of Interest Rates''. Macmillan. Reprinted in Clower, 1987, ''Money and Markets'', pp. (34-58. ) • Herschel I. Grossman, 1971. "Money, Interest, and Prices in Market Disequilibrium," ''Journal of Political Economy'',79(5), pp. (943 )-961. •Avinash Dixit, 1978. "The Balance of Trade in a Model of Temporary Equilibrium with Rationing," ''Review of Economic Studies'', 45(3), pp. ( 393 )-404.〕 * monetary theory to incorporate explicitly the difference between a money economy and barter economy such that "in sharp contrast with established () theory, money commodities play a peculiar and central role in shaping prevailing forces of excess demand."〔• Robert Clower, 1967. "A Reconsideration of the Microfoundations of Monetary Theory," ''Western Economic Journal'', 6(1), p. 8. (pp. 1-8 ) (press +)]. • _____, 1964. "Monetary History and Positive Economics," ''Journal of Economic History'', 24(3), pp. (364 )-380. • _____, 1969b. "What Traditional Monetary Theory Really Wasn't," ''Canadian Journal of Economics''. 2(2), pp. (299 )-302. • Joseph M. Ostroy, 1992. "Money and General Equilibrium Theory," sect. 2, Transaction Costs, ''The New Palgrave Dictionary of Money and Finance''. • Nobuhiro Kiyotaki and Randall Wright, 1993. "A Search-Theoretic Approach to Monetary Economics," ''American Economic Review'', 83(1), pp. ( 63-77 ) (press +). • Robert W. Clower, 1987. ''Money and Markets''. Cambridge. (Description ) and chapter-preview (links. ) Review (extract ) of David Laidler. • _____,1994. "Economics as an Inductive Science," ''Southern Economic Journal'', 60(4), pp. (805-814 ) (press +). Presidential address, SEA. • _____, 1995a. "Axiomatics in Economics," ''Southern Economic Journal'', 62(2), pp. (307-319 ) (press +). • _____ 1995b, "On the Origin of Monetary Exchange," ''Economic Inquiry'', 33(4), pp. 525-36. (Abstract ) and (reprint. ) • _____, 1995c. ''Economic Doctrine and Method: Selected Papers of R.W. Clower'', Edward Elgar Publishing. (Description. ) • _____, 1996. "Taking Markets Seriously: Groundwork for a Post-Walrasian Macroeconomics", with P.W. Howitt, in David Colander, ed., ''Beyond Microfoundations'', pp. (21-37. ) • Peter Howitt, Elisabetta de Antoni, and Axel Leijonhufvud, ed., 1999. ''Money, Markets and Method: Essays in Honour of Robert W. Clower'', Edward Elgar. (Description. )〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Robert W. Clower」の詳細全文を読む スポンサード リンク
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