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Equilibre, coordination et cycle

Listed author(s):
  • Jean-Luc Gaffard

[fre] Les théories du cycle d'affaires, telles qu'elles émergent au début des années 1950, mettent l'accent sur les problèmes de coordination, et plus précisément sur les effets des comportements d'investissement hors de l'équilibre. Les nouvelles théories, qui se sont développées à partir des années 1970, sont basées sur la méthode de l'équilibre et mettent l'accent sur les propriétés de la fonction d'utilité, de la fonction de production ou de la structure d'information ex ante. Elles constituent un véritable défi pour les « vieilles » théories, mais elles ne les rendent pas obsolètes, dans la mesure où elles font défaut sur un point crucial qui est d'expliquer la nature d'une dynamique multi-phases (ou multi-regimes). [eng] Equilibrium, co-ordination and cycles Theories of business cycles, as they emerge at the beginning of the fifties, essentially focus on co-ordination issues and more precisely on the effects of out-of-equilibrium investment behaviours. New theories, that has been developed from the beginning of the seventies onwards, are based on the so-called equilibrium method and focus on the properties of the utility function, the production function or the ex ante structure of information. They constitute a real challenge for the "old" theories, but they do not make them obsolete insofar as they miss the crucial point which is to explain the nature of a 'multi-phase (or multi-regime) dynamics'.

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Article provided by Programme National Persée in its journal Revue économique.

Volume (Year): 51 (2000)
Issue (Month): 5 ()
Pages: 1233-1247

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Handle: RePEc:prs:reveco:reco_0035-2764_2000_num_51_5_410583
Note: DOI:10.3406/reco.2000.410583
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