IDEAS home Printed from https://ideas.repec.org/a/prs/caecpo/cep_0154-8344_1998_num_33_1_1235.html
   My bibliography  Save this article

De « La Théorie Générale » à la Nouvelle Économie Classique : Une réflexion sur la nouveauté en macroéconomie

Author

Listed:
  • Robert Boyer

Abstract

[fre] Observe-t-on des nouveautés dans les théories macroéconomiques ? Sans nul doute si l'on compare le paradigme en vigueur au milieu des années soixante avec celui de la fin des années quatre-vingt-dix : vision, concepts, outils, résultats, recommandations de politique économique ont été radicalement transformés. Ce changement majeur conduit à s'interroger sur les relations entre nouveauté, recherche de la cohérence de la macroéconomie avec les axiomes de base de la théorie microéconomique, et pertinence. La prime donnée à la nouvelle économie classique tient au non usage du concept popperien de réfutabilité et à l'historicité inhérente de la macroéconomie. L'analyse du contenu des communications présentées au sein de l'American Economie Association en Janvier 1997 montre qu'au-delà d'un consensus sur certaines hypothèses de base se déploient de très nombreuses oppositions en termes de visions, d'outils et de résultats. La nouveauté n'est pas synonyme d'un mouvement cumulatif vers une plus grande généralité et pertinence des théories macroéconomiques. [eng] From General Theory to the New Classical Theory : An Essay on the Novelty in Macroeconomics.. By comparison with the 60' s, the contemporary macroeconomics displays a quite new paradigm : the vision, concepts, core results and suggestions for economic policy are totally different. Thus, the relations between innovation in theorizing, the search for micro-foundations and the empirical relevance of the new classical macroeconomics are investigated. The premium given to novelty is explained by the infrequent implementation of the Popperian refutability principle and the strong historicity of macroeconomic issues. A survey of the AER 1997 Proceedings suggests that beneath the consensus upon general hypotheses, the various authors differ about their visions, tools, results and economic policy recommendations.

Suggested Citation

  • Robert Boyer, 1998. "De « La Théorie Générale » à la Nouvelle Économie Classique : Une réflexion sur la nouveauté en macroéconomie," Cahiers d'Économie Politique, Programme National Persée, vol. 33(1), pages 7-56.
  • Handle: RePEc:prs:caecpo:cep_0154-8344_1998_num_33_1_1235
    DOI: 10.3406/cep.1998.1235
    Note: DOI:10.3406/cep.1998.1235
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/cep.1998.1235
    Download Restriction: no

    File URL: https://www.persee.fr/doc/cep_0154-8344_1998_num_33_1_1235
    Download Restriction: no

    File URL: https://libkey.io/10.3406/cep.1998.1235?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
    ---><---

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Hall, Robert E & Jones, Charles I, 1997. "Levels of Economic Activity across Countries," American Economic Review, American Economic Association, vol. 87(2), pages 173-177, May.
    3. Solow, Robert M, 1997. "It Ain't the Things You Don't Know That Hurt You, It's the Things You Know That Ain't So," American Economic Review, American Economic Association, vol. 87(2), pages 107-108, May.
    4. Ronald H. Coase, 2000. "The new institutional economics," Chapters, in: Claude Ménard (ed.), Institutions, Contracts and Organizations, chapter 1, Edward Elgar Publishing.
    5. repec:hal:wpspec:info:hdl:2441/8681 is not listed on IDEAS
    6. Taylor, John B., 1997. "A Core of Practical Macroeconomics," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 12(4), pages 1-3.
    7. Feldstein, Martin, 1997. "The Council of Economic Advisers: From Stabilization to Resource Allocation," American Economic Review, American Economic Association, vol. 87(2), pages 99-102, May.
    8. Weil, Philippe, 1989. "Increasing Returns and Animal Spirits," American Economic Review, American Economic Association, vol. 79(4), pages 889-894, September.
    9. Eichenbaum, Martin, 1997. "Some Thoughts on Practical Stabilization Policy," American Economic Review, American Economic Association, vol. 87(2), pages 236-239, May.
    10. Blanchard, Olivier, 1997. "Is There a Core of Usable Macroeconomics?," American Economic Review, American Economic Association, vol. 87(2), pages 244-246, May.
    11. Jean-Olivier Hairault, 1999. "Salaire et emploi dans la théorie des cycles réels," Cahiers d'Économie Politique, Programme National Persée, vol. 34(1), pages 195-219.
    12. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
    13. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, December.
    14. repec:hal:spmain:info:hdl:2441/8681 is not listed on IDEAS
    15. Stiglitz, Joseph E, 1987. "The Causes and Consequences of the Dependence of Quality on Price," Journal of Economic Literature, American Economic Association, vol. 25(1), pages 1-48, March.
    16. Porter, Roger B, 1997. "Presidents and Economists: The Council of Economic Advisers," American Economic Review, American Economic Association, vol. 87(2), pages 103-106, May.
    17. Eliasson, Gunnar, 1984. "Micro heterogeneity of firms and the stability of industrial growth," Journal of Economic Behavior & Organization, Elsevier, vol. 5(3-4), pages 249-274.
    18. Barbera, Salvador & Sonnenschein, Hugo, 1978. "Preference aggregation with randomized social orderings," Journal of Economic Theory, Elsevier, vol. 18(2), pages 244-254, August.
    19. Solow, Robert M, 1997. "Is There a Core of Usable Macroeconomics We Should All Believe In?," American Economic Review, American Economic Association, vol. 87(2), pages 230-232, May.
    20. Akerlof, George A & Yellen, Janet L, 1988. "Fairness and Unemployment," American Economic Review, American Economic Association, vol. 78(2), pages 44-49, May.
    21. Dornbusch, Rudi, 1997. "Fiscal Aspects of Monetary Integration," American Economic Review, American Economic Association, vol. 87(2), pages 221-223, May.
    22. Stiglitz, Joseph E, 1997. "Looking out for the National Interest: The Principles of the Council of Economic Advisers," American Economic Review, American Economic Association, vol. 87(2), pages 109-113, May.
    23. John Bryant, 1983. "A Simple Rational Expectations Keynes-type Model," The Quarterly Journal of Economics, Oxford University Press, vol. 98(3), pages 525-528.
    24. Michel Aglietta, 1991. "Le risque de système," Revue d'Économie Financière, Programme National Persée, vol. 18(3), pages 61-89.
    25. Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
    26. Blinder, Alan S, 1997. "Is There a Core of Practical Macroeconomics That We Should All Believe?," American Economic Review, American Economic Association, vol. 87(2), pages 240-243, May.
    27. J. Michael Harrison & David M. Kreps, 1978. "Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations," The Quarterly Journal of Economics, Oxford University Press, vol. 92(2), pages 323-336.
    28. Alberto Alesina & Geoffrey Carliner, 1991. "Politics and Economics in the Eighties," NBER Books, National Bureau of Economic Research, Inc, number ales91-1, October.
    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. Hilde C. Bjørnland, 1998. "Economic Fluctuations in a Small Open Economy - Real versus Nominal Shocks," Discussion Papers 215, Statistics Norway, Research Department.
    2. Pedro Garcia Duarte, 2012. "Not Going Away? Microfoundations in the Making of a New Consensus in Macroeconomics," Chapters, in: Microfoundations Reconsidered, chapter 6, Edward Elgar Publishing.
    3. John Lodewijks & John W Nevile, 2013. "John Nevile: The last two decades," The Economic and Labour Relations Review, , vol. 24(2), pages 135-149, June.
    4. Carl Chiarella & Peter Flaschel, 1999. "Disequilibrium Growth Theory: Foundations, Synthesis, Perspectives," Working Paper Series 85, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    5. Pedro Garcia Duarte & Gilberto Tadeu Lima, 2012. "Microfoundations Reconsidered," Books, Edward Elgar Publishing, number 14869.
    6. BIRMAN Andrei, 2012. "A VAR Analysis on the Monetary Policy Transmission Mechanism in Romania," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.
    7. Simon Mohun, 1999. "Markets, Money and Ideology," Working Papers 402, Queen Mary University of London, School of Economics and Finance.
    8. Boyer, Robert, 1996. "Seven paradoxes of capitalism...or is a theory of modern economies still possible ?," CEPREMAP Working Papers (Couverture Orange) 9620, CEPREMAP.
    9. Lucian Croitoru, 2014. "Will there be Deflation and Current Account Surpluses?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 5-21, October.
    10. Bart Hobijn, 2020. "The Supply-Side Origins of U.S. Inflation," Central Banking, Analysis, and Economic Policies Book Series, in: Gonzalo Castex & Jordi Galí & Diego Saravia (ed.),Changing Inflation Dynamics,Evolving Monetary Policy, edition 1, volume 27, chapter 7, pages 227-268, Central Bank of Chile.
    11. Tom van Veen, 2020. "Have Macroeconomic Models Lost Their Connection with Economic Reality?," CESifo Working Paper Series 8256, CESifo.
    12. Goyal, Ashima, 2002. "Coordinating monetary and fiscal policies: a role for rules?," MPRA Paper 29200, University Library of Munich, Germany.
    13. Jody W. Lipford, 2007. "Short Run Macroeconomic Performance and Economic Freedom: Can Economic Growth Rates be Higher and More Stable?," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 23(Fall 2007), pages 3-29.
    14. John, A. & Pecchenino, R. & Schmmelpfennig, D. & Schreft, S., 1990. "External Increasing Returns , Short-Lived Agents and Long- Lived Waste," Papers 8903, Michigan State - Econometrics and Economic Theory.
    15. Kraay, Aart & Raddatz, Claudio, 2007. "Poverty traps, aid, and growth," Journal of Development Economics, Elsevier, vol. 82(2), pages 315-347, March.
    16. Finn E. Kydland & Scott Freeman, 2000. "Monetary Aggregates and Output," American Economic Review, American Economic Association, vol. 90(5), pages 1125-1135, December.
    17. 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.
    18. 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.
    19. Takeo Hori & Koichi Futagami, 2019. "A Non‐unitary Discount Rate Model," Economica, London School of Economics and Political Science, vol. 86(341), pages 139-165, January.
    20. Zafirovski, Milan, 2002. "Reconsidering equilibrium: a socio-economic perspective," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(5), pages 559-579.

    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:caecpo:cep_0154-8344_1998_num_33_1_1235. 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/cep .

    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.