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本文是美国著名经济学家、前世界银行副行长、新凯恩斯主义的代表人物斯蒂格里茨针对亚洲金融危机所发表的新见解。从新凯恩斯主义的两个理论主线价格、工资刚性及信息不完全、不完全竞争等出发 ,研究价格下降在象东南亚金融危机这样剧烈的经济波动中所具有的强烈的负面作用 ,结论是凯恩斯主义的政策药方在东亚的危机中仍然有效。
This article is a new opinion expressed by Stiglitz, a prominent American economist and former deputy banker of the World Bank and Neo-Keynesian, on the Asian financial crisis. Starting from the two Keynesian theoretical prices, wage rigidity, incomplete information and imperfect competition, we study the strong negative effect of price declines on such dramatic economic fluctuations as the Southeast Asian financial crisis. The conclusion is that Keynesian Policy prescriptions are still valid in the crisis in East Asia.