Page 62 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ qwkqW dy purx pRXog krx iv`c AsmrQ rhWdI hY[ iesleI rwjX dI Aor qo hsqSyp jrurI ho jwdW hY[ AwriQk
kirAw dy p`Dr ƒ v`Dwx dy leI rwjX sIDy invyS kr skdw hY, Aqy injI invyS ƒ Anupuirq kr skdw hY[ auh
tryf XuinAn ƒ mwinAqw dyx vwly, AsI mjdUrI inXq krx vwly Aqy smwijk suriK`Aw qirik`AW dy mwiD`m
qoN mjdUrW nUM rwhq dyx dw kwnMUn bxw skdw hY[ ‘iesleI’ijvyN ik ifl`rf dw m`q hY, “ imhnq XUinAn Aqy
adwr imhnq ivDwn dw ivroD krnw ArQSwp`Dr dI nzr iv`c B`ly hI cMgw smiJAw jwvy, pr rwjnIiqk nzr
iv`c burw hY[“ AMq pUrx rozgwr aplb`D krn dy leI ArQivvsQw dy swDnNw dI pUrI qrW vrqoN krn dy leI
kynz rwjX-kwrvwhI dw smrQn krdw hY[
7. AlpkwlIn ivSlySx (Short-run Analysis) – prMprwvwdI svy-smwXoijq pRikirAw dy mwiDAm
kynz qoN dIrGkwl iv`c pUrx rozgwr iv`c ivSvws krdy sn[ kynz iv`c ienW sb`r nhIN sI ik dIrGkwl q`k
ieMqzwr kr s`ky, ikaNik asdw mnxw sI ik “ dIrGkwl iv`c qW AsIN swry mr jWdy hW [” ijvyN ik SumpItr
ny lkS kIqw hY, “asdw jIvn-drSn mUlMqw A`lpkwlIn drSn sI[” asdw ivSlySx AlpkwlIn swDnNw
q`k sIimq hY[ prMprwvwidAW dy ivprIq,ah ieh mMn lYNdw hY ik rUicAW, sUBwv,aqpwdn dIAW qknIkW,
imhnq dI pUrqI ieqAwdI AlpwviD dy dorwn siQr rihMdI hY Aqy iesleI auh mMg qy dIrGkwlIn pRBwv ƒ
C`f idMdw hY[ ieh mMn ky ik apBog mMg siQr rihMdI hY, auh ies g`l qy zor idMdw hYik byrozgwrI dUr krn
dy leI invyS mMg vDweI jwvy[ pr ies pRkwr jo sMquln –s`qr pRwpq huMdw hY, auh pUrx rozgwr dI bjwey
Alprojgwr dw p`Dr huMdw hY[
8. s`tw mMg dw mhqv (Importance of Speculative Demand ) – klwiskI ArQ-SwsqrI ivSvws rKdy
sI kI lyndyn Aqy sqrkqw ¿πÁ∂ÙXo dy leI mudrw dI mMg kI jWdI hY[ auh mudrw dI s`tw mMg ƒ nhI mwndy sn
ikaik s`tw ¿πÁ∂ÙXo dy leI rKI geI mudrw inSkrIA SySo dy nwl sMbD hY[ pr kynj ies mq dy nwl shmq
nhI hn[ auhny mudrw dI s`tw mMg qy mhqv idqw hY[ auhny ieh dwisAw hY ik lyndyn Aqy sqrkqw ¿πÁ∂ÙXo
dy leI rKI geI pirsmpiqAW dy nwl Awrijq ibAwj, nIcI ibAwj dr qy bhuq G`t ho jwdW hY[ pr nIcI
ibAwj dr qy mudrw dI s`tw mMg bhuq v`D hovygI[ iesleI ibAwj dI dr iek ivSyS nXunqm p`Dr qy nhI
hovygI Aqy mudrw dI s`tw mMg purI qrw ibAwj locdwr hovygI[ ieh kynj dw qrlqw jwl (liquidity trap) hY
ijsdw kliskI ArQSwsqrI ivSlySx krx iv`c AsmrQ sI[
ies sMdrB iv`c kynj ny ieh vI spSt kIqw hY ik ibAwj dr Dnwqmk
hox nwl, bcq bcq dy invyS dy v`D hox dI sMBwvnw rhdI hY[ qrlqw
jwl, ibAwj dr ƒ iek inScq nXunqm dr qo Qwly ifgwx qo rokdw
hY[ ieh icqr 5.6 iv`c ivKwieAw igAw hY ijQy SS bcq vkr hY Aqy
II invyS vkr[ jykr qrlqw jwl Or ibAwj dr qy hovy qW ieh ibAwj
1
dr ƒ Or iqkr ifgx qo rokdw hY Aqy bcq Aqy invyS iv`c smnqw E
ibMdu qy nhI leI jw skdI[Or ibAwj dr dI qrlqw jwl dI AvsQw
1
iv`c invyS qo bcq i s v`D hY[ AMq ArQ-ivvsQw purx rojgwr dy
1 1
p`Dr E qy sQwipq nhI hovygI ijQy bcq Aqy invyS brwbr hn blik
Alprojgwr sMquln p`Dr ijQy invyS qo bcq v`D hMudI hY[
kynj ny Awgy dwisAw hY ik ibAwj dr jIro qy ifg jwx nwl vI invyS icqr 5.6
dI bcq v`D hovygI[ iehƒ vI ivqr 5.6 iv`c ivKwieAw igAw hY ijQy
II vkr Kwby pwsy ƒ srk kr I I ho jwdW hY Aqy invyS iv`c igrwvt idKwdI hY[ ieho ijhI siDqI pweI jWdI
1 1
hY ik jIro ibAwj dr (O) qy invyS nwl bcq i s v`D hY[ ies siDqI iv`c klwiskI bcq Aqy invyS vkr
0 0
E ibMdu qy k`tdy hn jd ibAwj qy Or’ rxwqmk hY[ ieh AsMgq siDqI hY[
1
9. mudrw inp`K nhI (Money not Neutral)– klwiskI ArQSwsqrI mudrw ƒ inrp`K nhI mwndw sI[
iesleI auhwnW ny modirk isDWq iv`c aqpwdn, rojgwr Aqy ibAwj dr ƒ Swml nhI kIqw sI[ auhnW dy
muqbwk, aqpwdn Aqy rojgwr dw p`Dr Aqy ibAwj dI sMquln dr vsqivk qwkqW rwhI inrDirq huMdy hn[
kynj ny klwiskI mq dI Alocnw kIqI kI modirk isDWq mu`l iSDWq qo iBn hn[ auhnW ny modirk isDWn ƒ

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