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Vitesse de circulation de la monnaie et tableau économique chez les pré-classiques

Author

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  • Agnès Basaille-Gahitte
  • Bernadette Nicot

Abstract

[eng] In Petty, Boisguilbert and Cantillon 's works we find explanatories variables, basis of the income velocity of money and of payments frequency within monetary circuit. These concepts will be used as starting point of the elaboration of Fisher relation. Velocity of money is studied in view of adjusting quantities where the production activity, the ways and customs manage the payments practices. From the outset, money velocity explanation is social. Agents are taken into account in so far as they are the starting or coming points of monetary flows. The nature of their connections governs economic circuit. Cantillon compares monetary and real flows, he doesn't find out but explains money velocity. He studies how an extension of circuit or a modification in the synchronized agents' paiements can influence money velocity. He computes how many weeks money takes to travel through the circuit, and so does the holding agents' money. His analysis leads to an anticipation of the liquidities approach of monetary theory. [fre] Les travaux des pré-classiques, et plus particulièrement ceux de Petty, Boisguilbert et Cantillon, nous ont permis de retrouver les variables explicatives et les fondements de la vitesse-revenu de la monnaie, ainsi que de la fréquence des paiements dans le circuit monétaire. Ces concepts serviront de point de départ à l'élaboration de la relation de Fisher. La vitesse de circulation de la monnaie y est étudiée dans une optique d'ajustement entre les quantités où l'activité de production, les us et coutumes dirigent les habitudes de paiements. La vitesse de circulation a une origine et une explication sociale. Les agents sont pris en compte dans la mesure où ils constituent le point de départ ou d'arrivée des flux monétaires. La nature de leurs relations détermine le circuit économique. Cantillon reprend la comparaison des flux monétaires et réels de ses prédécesseurs en fournissant une explication et non plus une simple constatation de la vitesse de circulation. Il étudie l'influence sur cette dernière d'un allongement du circuit économique et des modifications dans la synchronisation des paiements entre agents. Il calcule le nombre de semaines que la monnaie prend pour parcourir le circuit, ainsi que la durée de détention des encaisses par les différents agents. Son analyse conduit à une anticipation de l'approche par les liquidités de la théorie monétaire.

Suggested Citation

  • Agnès Basaille-Gahitte & Bernadette Nicot, 1994. "Vitesse de circulation de la monnaie et tableau économique chez les pré-classiques," Revue Française d'Économie, Programme National Persée, vol. 9(2), pages 37-70.
  • Handle: RePEc:prs:rfreco:rfeco_0769-0479_1994_num_9_2_952
    DOI: 10.3406/rfeco.1994.952
    Note: DOI:10.3406/rfeco.1994.952
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