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Théorie de l'équilibre temporaire général

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  • Jean-Michel Grandmont

Abstract

[fre] Cet ouvrage fait le point des recherches théoriques récentes sur des économies où l'échange a lieu séquentiellement au cours du temps et où chaque agent prend à chaque instant des décisions au vu de ses anticipations concernant son envi­ronnement futur. L'accent est porté particulièrement sur les problèmes soulevés par la spéculation sur les marchés à terme (marchés des capitaux), ainsi que par la prise en compte de la monnaie et des activités bancaires dans les modèles d'équilibre temporaire concurrentiel, où les ajustements se font uniquement par les prix. Une analyse de la logique des modèles d'équilibre temporaire avec rationnement quantitatif est également présentée. [eng] Temporary general equilibrium theory. . This paper surveys some recent studies of economics where trading takes place sequentially over time, and where each agent makes decisions af every moment in the light of his expectations about his future environnent. The paper reviews particularly the issues raised by speculation in capital markets, and by the consideration of money and banking activities in temporary competitive equitibrium models, where adjustments take place by means of price movements only. A thorough investigation of the logic of temporary equilibrium models with quantity rationing is also offered.

Suggested Citation

  • Jean-Michel Grandmont, 1976. "Théorie de l'équilibre temporaire général," Revue Économique, Programme National Persée, vol. 27(5), pages 805-843.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1976_num_27_5_408286
    Note: DOI:10.3406/reco.1976.408286
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    References listed on IDEAS

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    1. Jean-Michel Grandmont & Yves Younes, 1973. "On the Efficiency of a Monetary Equilibrium," Review of Economic Studies, Oxford University Press, vol. 40(2), pages 149-165.
    2. Katsuhito Iwai, 1974. "The Firm in Uncertain Markets and Its Price, Wage and Employment Adjustments," Review of Economic Studies, Oxford University Press, vol. 41(2), pages 257-276.
    3. Gale, David, 1973. "Pure exchange equilibrium of dynamic economic models," Journal of Economic Theory, Elsevier, vol. 6(1), pages 12-36, February.
    4. Kurz, Mordecai, 1974. "Equilibrium in a Finite Sequence of Markets with Transaction Cost," Econometrica, Econometric Society, vol. 42(1), pages 1-20, January.
    5. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    6. Jean-Michel Grandmont & Guy Laroque, 1975. "On Money and Banking," Review of Economic Studies, Oxford University Press, vol. 42(2), pages 207-236.
    7. Stigum, Bernt P, 1969. "Entrepreneurial Choice Over Time under Conditions of Uncertainty," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(3), pages 426-442, October.
    8. Jean-Michel Grandmont & Yves Younes, 1972. "On the Role of Money and the Existence of a Monetary Equilibrium," Review of Economic Studies, Oxford University Press, vol. 39(3), pages 355-372.
    9. Hahn, F H, 1971. "Equilibrium with Transaction Costs," Econometrica, Econometric Society, vol. 39(3), pages 417-439, May.
    10. Barro, Robert J & Grossman, Herschel I, 1971. "A General Disequilibrium Model of Income and Employment," American Economic Review, American Economic Association, vol. 61(1), pages 82-93, March.
    11. Stigum, Bernt P, 1972. "Resource Allocation under Uncertainty," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(3), pages 431-459, October.
    12. Bernt P. Stigum, 1969. "Competitive Equilibria under Uncertainty," The Quarterly Journal of Economics, Oxford University Press, vol. 83(4), pages 533-561.
    13. Gerard Debreu, 1956. "Market Equilibrium," Cowles Foundation Discussion Papers 10, Cowles Foundation for Research in Economics, Yale University.
    14. Grossman, Herschel I, 1971. "Money, Interest, and Prices in Market Disequilibrium," Journal of Political Economy, University of Chicago Press, vol. 79(5), pages 943-961, Sept.-Oct.
    15. Grandmont, Jean-Michel & Laroque, Guy, 1976. "The Liquidity Trap," Econometrica, Econometric Society, vol. 44(1), pages 129-135, January.
    16. Grandmont, Jean-Michel & Laroque, Guy, 1973. "Money in the pure consumption loan model," Journal of Economic Theory, Elsevier, vol. 6(4), pages 382-395, August.
    17. E. Glustoff, 1968. "On the Existence of a Keynesian Equilibrium," Review of Economic Studies, Oxford University Press, vol. 35(3), pages 327-334.
    18. Benassy, Jean-Pascal, 1975. "Disequilibrium Exchange in Barter and Monetary Economies," Economic Inquiry, Western Economic Association International, vol. 13(2), pages 131-156, June.
    19. Helpman, Elhanan & Laffont, Jean-Jacques, 1975. "On moral hazard in general equilibrium theory," Journal of Economic Theory, Elsevier, vol. 10(1), pages 8-23, February.
    20. Grandmont, Jean-Michel, 1972. "Continuity properties of a von Neumann-Morgenstern utility," Journal of Economic Theory, Elsevier, vol. 4(1), pages 45-57, February.
    21. Hart, Oliver D., 1974. "On the existence of equilibrium in a securities model," Journal of Economic Theory, Elsevier, vol. 9(3), pages 293-311, November.
    22. Radner, Roy, 1970. "Problems in the Theory of Markets under Uncertainty," American Economic Review, American Economic Association, vol. 60(2), pages 454-460, May.
    23. Green, Jerry R, 1973. "Temporary General Equilibrium in a Sequential Trading Model with Spot and Futures Transactions," Econometrica, Econometric Society, vol. 41(6), pages 1103-1123, November.
    24. Grandmont, Jean-Michel & Hildenbrand, Werner, 1974. "Stochastic processes of temporary equilibria," Journal of Mathematical Economics, Elsevier, vol. 1(3), pages 247-277, December.
    25. David Starrett, 1973. "Inefficiency and the Demand for "Money" in a Sequence Economy," Review of Economic Studies, Oxford University Press, vol. 40(4), pages 437-448.
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    Cited by:

    1. Antoine d'Autume, 1982. "L'introduction du temps dans la théorie de l'équilibre général," Cahiers d'Économie Politique, Programme National Persée, vol. 7(1), pages 93-127.

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