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Théorie keynésienne et théorie structuraliste du chômage: analyse des vingt dernières années

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  • Edmund S. PHELPS

Abstract

[eng] Contemporary Keynesian theory sees the unemployment rate as driven by shocks to aggregate demand and ply, and attracted back to some equilibrium, or natural, rate. The latter is exogenous : either autonomous or, if path-dependent, predetermined. Fiscal stimuli to demand are expansionary via velocity. "Structuralist" theory also sees unemployment as tending toward an equilibrium path, but views the equilibrium rate (and associated real wage) as a function of current wealth and relative prices (including the real interest rate), which are in turn a function of the structure of the economy, including the structure of demand and perhaps past history. [fre] La théorie keynésienne contemporaine considère que le taux de chômage est dû à des chocs sur la demande et l'offre globale et a tendance à revenir à un taux d'équilibre ou taux naturel. Ce dernier est exogène, c'est-à-dire soit autonome soit, s'il dépend d'un sentier de croissance, pré-déterminé. Les incitations ou la politique budgétaire sont expansionnistes grâce à la vélocité. La théorie structuraliste considère également que le chômage tend vers un niveau d'équilibre, mais voit dans cet équilibre une fonction de la richesse et des prix relatifs, notamment du taux d'intérêt réel, qui sont eux-mêmes une fonction de la structure de cette économie, c'est-à-dire de la structure de la demande et probablement de l'historique de l'économie.

Suggested Citation

  • Edmund S. PHELPS, 1990. "Théorie keynésienne et théorie structuraliste du chômage: analyse des vingt dernières années," Revue Française d'Économie, Programme National Persée, vol. 5(1), pages 3-28.
  • Handle: RePEc:prs:rfreco:rfeco_0769-0479_1990_num_5_1_1238 Note: DOI:10.3406/rfeco.1990.1238
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    References listed on IDEAS

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    1. Keeley, Michael C. & Furlong, Frederick T., 1990. "A reexamination of mean-variance analysis of bank capital regulation," Journal of Banking & Finance, Elsevier, vol. 14(1), pages 69-84, March.
    2. Pyle, David H, 1971. "On the Theory of Financial Intermediation," Journal of Finance, American Finance Association, vol. 26(3), pages 737-747, June.
    3. Kahane, Yehuda, 1977. "Capital adequacy and the regulation of financial intermediaries," Journal of Banking & Finance, Elsevier, vol. 1(2), pages 207-218, October.
    4. Miller, Merton H., 1995. "Do the M & M propositions apply to banks?," Journal of Banking & Finance, Elsevier, vol. 19(3-4), pages 483-489, June.
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