Page 242 - DECO402_MACROECONOMIC_THEORY_HINDI

lef"V&vFkZ'kkL=k osQ fl¼kar

uksV C vkSj E ¯cnqvksa dks feyk;k tkrk gS rks csjkstxkjh dh izko`Qfrd
SPC
nj ij ,d vuqyac nh?kZdkyhu fiQfyIl oozQ LPC [khapk tkrk 3
LPC
gSA oozQ ij csjkstxkjh vkSj LiQhfr osQ chp fofue; (trade-off) SPC 2
SPC
ugha gksrk gS cfYd A, C vkSj E ¯cnqvksa ij LiQhfr dh dbZ njksa 1
8
esa ls dksbZ ,d nj 3 izfr'kr dh izkÑfrd csjkstxkjh nj osQ lkFk
D E
(% ) 6
esy [kkrh gSA csjkstxkjh nj esa bldh izko`Qfrd nj osQ uhps dksbZ
Inflation B
Hkh dVkSrh rsth ls c<+ jgh vkSj var esa ,d foLiQksV LiQhfr C
yk;sxhA ysfdu ;g osQoy vLFkk;h rkSj ls laHko gS tc rd fd 4
Jfed LiQhfr nj dk de ;k vf/d vuqeku yxkrs gSaA A
2
nh?kZdky esa] vFkZO;oLFkk izko`Qfrd csjkstxkjh nj ij LFkkfir
gksus osQ fy, ckè; gksxhA N
O 1 2 3
blfy,] vYidky osQ flok; csjkstxkjh vkSj LiQhfr osQ chp
U nemploym ent (% )
fofue; ugha gksrk gSA bldk dkj.k ;g gS fd LiQhfrdkjh
fp=k 23-2
izR;k'kk,a Hkwrdky esa LiQhfr esa D;k gqvk gS] blosQ vuqlkj
la'kksf/r dh tkrh gSA blfy, tc LiQhfr dh okLrfod nj fp=k 23-2 esa 4 izfr'kr rd c<+rh gS rks Jfed
oqQN le; rd 2 izfr'kr LiQhfr dh vk'kk yxk;s j[krs gSa vkSj osQoy nh?kZdky esa os 2 izfr'kr ls mQij 4
izfr'kr rd viuh izR;k'kk,a la'kksfèkr djrs gSaA D;ksafd os vius dks izR;k'kkvksa osQ vuqowQy djrs gSa blfy, bls
vuqowQfyr izR;k'kk ifjdYiuk** (adaptive expectations hypothesis) Hkh dgk tkrk gSA bl ifjdYiuk osQ
vuqlkj LiQhfr dh izR;kf'kr nj lnSo okLrfod nj osQ ihNs jg tkrh gSA ijarq ;fn okLrfod nj fLFkj jgrh gS
rks izR;kf'kr nj var esa blosQ cjkcj gksxhA blls ;g fu"d"kZ fudyrk gS fd LiQhfr vkSj csjkstxkjh osQ chp
vYidkyhu fofue; gksrk gS ijarq nksuksa osQ chp nh?kZdkyhu fofue; ugha gksrk gS tc rd fd ,d fujarj c<+rh
LiQhfr nj lgu ugha dh tkrh gSA

vkykspuk,a (Criticisms)
fuEu vk/kjksa ij izQhMeSu dh Roj.koknh ifjdYiuk dh vkykspuk,a dh xbZ gSaA

1- vuqyac nh?kZdkyhu fiQfyIl oozQ LiQhfr dh lrr (steady) nj ls lacaf/r nj gSA ijarq ;g lgh fopkj
ugha gS D;ksafd fcuk lrr voLFkk dks igqapus dh izo`fÙk osQ] vFkZO;oLFkk lnSo vlarqfyr fLFkfr;ksa dh
Jsf.k;ksa ls gksdj xqtjrh gSA ,slh fLFkfr esa] izR;k'kk,a o"kZ&izfro"kZ foiQy gks ldrh gSaA
2- izQhMeSu dksbZ u;k fl¼kar ugha nsrk gS fd izR;k'kk,a oSQls cukbZ tkrh gSa tks lS¼kafrd vkSj lkaf[;dh;
i{kikrksa ls Lora=k gksaxhA blls mldh fLFkfr vLi"V jgrh gSA

3- vuqyac nh?kZdkyhu fiQfyIl oozQ ls vfHkizk; gS fd lHkh izR;k'kk,a larq"V gSa vkSj yksx Hkfo"; dh LiQhfr
njksa dk lgh&lgh vuqeku djrs gSaA vkykspdksa dk dguk gS fd yksx LiQhfr njksa dk lgh&lgh vuqeku
ugha dj ikrs gSa] fo'ks"k :i ls] tc oqQN dherksa dk nwljksa ls vf/d rsth ls c<+uk yxHkx fuf'pr gksrk
gSA Hkfo"; dh vfuf'prrkvksa osQ dkj.k iw£r vkSj ekax osQ chp vlarqyu gksuk vkSj csjkstxkjh dh nj esa
o`f¼ gksuk fuf'pr gksrk gSA csjkstxkjh dks [kRe djuk rks nwj dh ckr gS FkksM+h&lh bls csgn [kjkc fLFkfr
esa igqapk ldrk gSA

4- vius ,d ys[k esa izQhMeSu Lo;a bl laHkkouk dks Lohdkj djrk gS fd nh?kZdkyhu fiQfyIl oozQ fcYoqQy
vuqyac ugha gks ldrk] cfYd LiQhfr dh c<+rh ek=kkvksa osQ lkFk uhps nkb± vksj >qdrk gks ldrk gS tks
c<+rh gqbZ csjkstxkjh yk;sxkA

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