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Les récessions sont-elles productives ? Une approche en termes de coût d'opportunité

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  • Gilles Saint-Paul

Abstract

[fre] Les récessions sont-elles productives ? Une approche en termes de coût d'opportunité. . Cet article présente, à l'aide d'un modèle simple, une recherche récente sur les interactions entre fluctuations et croissance qui insiste particulièrement sur le rôle des activités de réorganisation et de restructuration pendant les périodes de récession. [eng] Are recessions productive ? An opportunite cost approach.. . This article reviews recent empirical and theoretical evidence on the effect of macroeconomic fluctuations on long-run growth, with an especial emphasis on the idea that the opportunity cost of productivity-improving activities falls in recessions. The role of labor hoarding in this phenomenon is further examined.

Suggested Citation

  • Gilles Saint-Paul, 1994. "Les récessions sont-elles productives ? Une approche en termes de coût d'opportunité," Revue Économique, Programme National Persée, vol. 45(3), pages 897-904.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1994_num_45_3_409579
    Note: DOI:10.3406/reco.1994.409579
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    References listed on IDEAS

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    1. Stadler, George W, 1990. "Business Cycle Models with Endogenous Technology," American Economic Review, American Economic Association, vol. 80(4), pages 763-778, September.
    2. Mervyn A. King & Mark Robson, 1989. "Endogenous Growth and the role of History," NBER Working Papers 3151, National Bureau of Economic Research, Inc.
    3. Saint-Paul, Gilles, 1993. "Productivity growth and the structure of the business cycle," European Economic Review, Elsevier, vol. 37(4), pages 861-883, May.
    4. Ambler, Steven & Cardia, Emanuela & Phaneuf, Louis, 1992. "Contrats de salaire, croissance endogène et fluctuations," L'Actualité Economique, Société Canadienne de Science Economique, vol. 68(1), pages 175-204, mars et j.
    5. Bean, Charles R., 1990. "Endogenous growth and the procyclical behaviour of productivity," European Economic Review, Elsevier, vol. 34(2-3), pages 355-363, May.
    6. John Y. Campbell & N. Gregory Mankiw, 1987. "Are Output Fluctuations Transitory?," The Quarterly Journal of Economics, Oxford University Press, vol. 102(4), pages 857-880.
    7. Philippe Aghion & Gilles Saint-Paul, 1998. "Uncovering Some Causal Relationships Between Productivity Growth and the Structure of Economic Fluctuations: A Tentative Survey," LABOUR, CEIS, vol. 12(2), pages 279-303, July.
    8. Kenneth J. Arrow, 1962. "The Economic Implications of Learning by Doing," Review of Economic Studies, Oxford University Press, vol. 29(3), pages 155-173.
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    Cited by:

    1. Muriel Dal-Pont Legrand & Harald Hagemann, 2015. "Can Recessions be 'Productive'? Schumpeter and the Moderns," GREDEG Working Papers 2015-23, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.

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