IDEAS home Printed from https://ideas.repec.org/a/prs/reveco/reco_0035-2764_1993_num_44_3_409463.html
   My bibliography  Save this article

Défauts de coordination des activités. Principes et exemples

Author

Listed:
  • Patrick Artus

Abstract

[fre] Défauts de coordination des activités. Principes et exemples. . L'économie peut se trouver dans une situation d'équilibre de sous-emploi, de sous-activité, comme résultat des différences entre les décisions qui sont favorables individuellement et les décisions qui sont favorables collectivement. Ainsi, un changement général de stratégie de tous les agents économiques améliorerait le bien-être mais n'est pas réalisé parce qu'aucun agent économique n'a d'incitation individuelle à changer de conduite : les décisions de ces agents ne sont pas coordonnées.. Nous expliquons dans quels cas ce genre de situation peut se présenter et en donnons divers exemples ; le point important est qu'il peut apparaître, dans ce type de configuration, une multiplicité d'équilibres, les uns supérieurs aux autres du point de vue du bien-être : l'économie peut se trouver « bloquée » dans un équilibre défavorable, alors qu'on pourrait passer à une situation plus avantageuse pour tous. [eng] Coordination failures : principles and examples . . The economy can be in an underemployment - low activity equilibrium as a resuit of differences between individually profitable and collectively efficient decisions. A change in the strategy of all economic agents would improve welfare, but does not occur because no agent has an individual incentive to change his strategy : the decisions are not coordinated.. We explain in which cases that kind of situation can appear and give several examples. The important feature of the models is the possibility of multiple equilibria that can be ranked from the point of view of welfare. The economy can be blocked at a low welfare equilibrium whereas it could be possible to switch to a more efficient situation.

Suggested Citation

  • Patrick Artus, 1993. "Défauts de coordination des activités. Principes et exemples," Revue Économique, Programme National Persée, vol. 44(3), pages 551-568.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1993_num_44_3_409463
    DOI: 10.3406/reco.1993.409463
    Note: DOI:10.3406/reco.1993.409463
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/reco.1993.409463
    Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

    File URL: https://www.persee.fr/doc/reco_0035-2764_1993_num_44_3_409463
    Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

    File URL: https://libkey.io/10.3406/reco.1993.409463?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Andersen, Torben M., 1988. "Coordination and business cycles," European Economic Review, Elsevier, vol. 32(2-3), pages 398-407, March.
    2. Diamond, Peter & Fudenberg, Drew, 1989. "Rational Expectations Business Cycles in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 606-619, June.
    3. Dagsvik, John & Jovanovic, Boyan, 1994. "Was the Great Depression a low-level equilibrium?," European Economic Review, Elsevier, vol. 38(9), pages 1711-1729, December.
    4. Shleifer, Andrei & Vishny, Robert W, 1988. "The Efficiency of Investment in the Presence of Aggregate Demand Spillovers," Journal of Political Economy, University of Chicago Press, vol. 96(6), pages 1221-1231, December.
    5. N. Gregory Mankiw, 1985. "Small Menu Costs and Large Business Cycles: A Macroeconomic Model of Monopoly," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(2), pages 529-538.
    6. Weitzman, Martin L, 1982. "Increasing Returns and the Foundations of Unemployment Theory," Economic Journal, Royal Economic Society, vol. 92(368), pages 787-804, December.
    7. Howitt, Peter, 1985. "Transaction Costs in the Theory of Unemployment," American Economic Review, American Economic Association, vol. 75(1), pages 88-100, March.
    8. Russell Cooper & Andrew John, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 103(3), pages 441-463.
    9. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-894, October.
    10. Steven N. Durlauf, 1993. "Nonergodic Economic Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(2), pages 349-366.
    11. Russell Cooper, 1987. "Dynamic Behavior of Imperfectly Competitive Economies with Multiple Equilibria," NBER Working Papers 2388, National Bureau of Economic Research, Inc.
    12. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-666, September.
    13. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1989. "Industrialization and the Big Push," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1003-1026, October.
    14. John Bryant, 1983. "A Simple Rational Expectations Keynes-type Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(3), pages 525-528.
    15. Costas Azariadis & Allan Drazen, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(2), pages 501-526.
    16. Cooper, Russell W. & Haltiwanger, John Jr., 1992. "Macroeconomic implications of production bunching : Factor demand linkages," Journal of Monetary Economics, Elsevier, vol. 30(1), pages 107-127, October.
    17. Andrew S. Caplin & Daniel F. Spulber, 1987. "Menu Costs and the Neutrality of Money," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(4), pages 703-725.
    18. Durlauf, Steven N, 1991. "Multiple Equilibria and Persistence in Aggregate Fluctuations," American Economic Review, American Economic Association, vol. 81(2), pages 70-74, May.
    19. Akerlof, George A & Yellen, Janet L, 1985. "Can Small Deviations from Rationality Make Significant Differences to Economic Equilibria?," American Economic Review, American Economic Association, vol. 75(4), pages 708-720, September.
    20. Andersen, Torben M, 1987. "Effective Demand, Differential Information and the Multiplier," Economic Journal, Royal Economic Society, vol. 97(386), pages 353-371, June.
    21. Drazen, Allan, 1987. "Reciprocal externality models of low employment," European Economic Review, Elsevier, vol. 31(1-2), pages 436-443.
    22. Julio J. Rotemberg, 1987. "The New Keynesian Microfoundations," NBER Chapters, in: NBER Macroeconomics Annual 1987, Volume 2, pages 69-116, National Bureau of Economic Research, Inc.
    23. Nobuhiro Kiyotaki, 1988. "Multiple Expectational Equilibria Under Monopolistic Competition," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 103(4), pages 695-713.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Julien, Ludovic A., 2003. "Chômage d’équilibre, équilibres multiples et défauts de coordination," L'Actualité Economique, Société Canadienne de Science Economique, vol. 79(4), pages 523-562, Décembre.
    2. Thierry Laurent & Hélène Zajdela, 1999. "Emploi, salaire et coordination des activités," Cahiers d'Économie Politique, Programme National Persée, vol. 34(1), pages 67-100.
    3. Amedeo Panci, 1999. "Multiple equilibria: coordination failure and endogenous cycle," Working Papers in Public Economics 30, University of Rome La Sapienza, Department of Economics and Law.
    4. Cooper, Russell & Haltiwanger, John, 1996. "Evidence on Macroeconomic Complementarities," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 78-93, February.
    5. Cooper, Russell W. & Johri, Alok, 1997. "Dynamic complementarities: A quantitative analysis," Journal of Monetary Economics, Elsevier, vol. 40(1), pages 97-119, September.
    6. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1989. "Increasing Returns, Durables and Economic Fluctuations," NBER Working Papers 3014, National Bureau of Economic Research, Inc.
    7. Seonghwan Oh & Michael Waldman, 1989. "Keynesian Coordination Failure and Persistence," UCLA Economics Working Papers 570, UCLA Department of Economics.
    8. Seongwan Oh & Michael Waldman, 1989. "The New Perspective on Keynesian Coordination Failure: Theory and Evidence," UCLA Economics Working Papers 559, UCLA Department of Economics.
    9. Randal J. Verbrugge, 1998. "Local Complementarities and Aggregate Fluctuations," Macroeconomics 9809016, University Library of Munich, Germany, revised 30 Sep 1998.
    10. Emanuela Randon, "undated". "Multiple Equilibria with Externalities," Discussion Papers 04/09, Department of Economics, University of York.
    11. Jesus Fernandez-Villaverde & Federico Mandelman & Francesco Zanetti & Yang Yu, 2018. "Search Complementarities, Aggregate Fluctuations and Fiscal Policy," 2018 Meeting Papers 386, Society for Economic Dynamics.
    12. Marco Da Rin & Thomas Hellmann, "undated". "Banks as Catalysts of the Big Push," Working Papers 98, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    13. Ramser, Hans Jürgen, 1992. "Nicht-kompetitive Gütermärkte im makroökonomischen Modell," Discussion Papers, Series I 263, University of Konstanz, Department of Economics.
    14. Carlos Borondo, 1994. "La rigidez nominal de los precios de la Nueva Economía Keynesiana: una panorámica," Investigaciones Economicas, Fundación SEPI, vol. 18(2), pages 245-288, May.
    15. Bouvard, Matthieu & de Motta, Adolfo, 2021. "Labor leverage, coordination failures, and aggregate risk," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1229-1252.
    16. Matthieu Bouvard & Adolfo de Motta, 2021. "Labor leverage, coordination failures, and aggregate risk," Post-Print hal-03524121, HAL.
    17. Lucke, Bernd, 1995. "Do small menu costs explain large business cycles?," Economics Letters, Elsevier, vol. 47(2), pages 185-192, February.
    18. Ciccone, Antonio & Matsuyama, Kiminori, 1996. "Start-up costs and pecuniary externalities as barriers to economic development," Journal of Development Economics, Elsevier, vol. 49(1), pages 33-59, April.
    19. Ludovic A. Julien & Nicolas Sanz, 2006. "Equilibres multiples avec chômage, coûts de transaction et concurrence monopolistique," Working Papers hal-04138523, HAL.
    20. Bouvard, Matthieu & de Motta, Adolfo, 2021. "Labor leverage, coordination failures, and aggregate risk," TSE Working Papers 21-1179, Toulouse School of Economics (TSE).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:reveco:reco_0035-2764_1993_num_44_3_409463. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/reco .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.