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Les effets du changement du taux de salaire dans un état de chômage keynésien avec rationnement stochastique

Listed author(s):
  • Weinrich, Gerd

    (Institut Universitaire Européen, Florence)

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    The effect of an increase in wage rates on employment and production in a state of Keynesian unemployment was studied by Malinvaud (1977). In his analysis, Malinvaud assumes a deterministic rationing model. We replace this hypothesis by an assumption of stochastic rationing. Transaction proposals may therefore exceed real transactions, with the difference creating a measure of disequilibrium. Producers may therefore react to changes in wage rates and this substitution effect may dominate the revenue effect. In fact, we prove that an increase in wage rates depresses employment even though it produces a rise in the volume of goods transactions. L’effet d’un accroissement du taux de salaire sur l’emploi et la production lorsqu’on se trouve dans un état de chômage keynésien a été analysé par Malinvaud (1977). Dans cette analyse, il suppose un schéma de rationnement déterministe. Nous remplaçons ici cette hypothèse par celle d’un rationnement stochastique. Les propositions de transaction peuvent alors excéder les transactions réelles, cet écart donnant une mesure du déséquilibre. Les producteurs peuvent alors réagir au changement du taux de salaire et cet effet de substitution peut dominer l’effet-revenu. En fait, nous prouvons qu’une augmentation du taux de salaire déprime l’emploi même si elle favorise une hausse du niveau de transactions des marchandises.

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    Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

    Volume (Year): 60 (1984)
    Issue (Month): 4 (décembre)
    Pages: 452-470

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    Handle: RePEc:ris:actuec:v:60:y:1984:i:4:p:452-470
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    1. Bohm, Volker, 1978. "Disequilibrium dynamics in a simple macroeconomic model," Journal of Economic Theory, Elsevier, vol. 17(2), pages 179-199, April.
    2. Lars E. O. Svensson, 1980. "Effective Demand and Stochastic Rationing," Review of Economic Studies, Oxford University Press, vol. 47(2), pages 339-355.
    3. Dehez, Pierre, 1982. "Stationary keynesian equilibria," European Economic Review, Elsevier, vol. 19(2), pages 245-258.
    4. Muellbauer, John & Portes, Richard, 1978. "Macroeconomic Models with Quantity Rationing," Economic Journal, Royal Economic Society, vol. 88(352), pages 788-821, December.
    5. Douglas Gale, 1981. "Large Economies with Trading Uncertainty: A Correction," Review of Economic Studies, Oxford University Press, vol. 48(2), pages 363-364.
    6. Weinrich, G., 1984. "A prototype macroeconomic model with stochastic quantity rationing," CORE Discussion Papers 1984017, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Douglas Gale, 1979. "Large Economies with Trading Uncertainty," Review of Economic Studies, Oxford University Press, vol. 46(2), pages 319-338.
    8. Green, Jerry, 1980. "On the Theory of Effective Demand," Economic Journal, Royal Economic Society, vol. 90(358), pages 341-353, June.
    9. Seppo Honkapohja & Takatoshi Ito, 1979. "Non-Trivial Equilibrium in an Economy With Stochastic Rationing," NBER Working Papers 0322, National Bureau of Economic Research, Inc.
    10. Weinrich, Gerd, 1982. "On the Theory of Effective Demand," Economic Journal, Royal Economic Society, vol. 92(365), pages 174-175, March.
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