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Contraintes de débouchés, capacités de production et chômage dans un modèle macroéconomique avec concurrence imparfaite

  • Sneessens, Henri R.

    (IRES)

The purpose of this paper is to show how to combine in a unified setup recent developments on wage and price formation together with the key features of models with quantity constraints. This is done in a traditional three-goods (goods, labor and money) two-market (goods and labor) setup, plus energy for the analysis of the consequences of an oil shock. Prices are set by monopolistically competitive firms; the wage rate is set by the union. We examine successively the properties of the short-run (fixed productive capacity; fixed prices and wages), the medium-run (fixed productive capacity; endogenous prices and wages), and the long-run (endogenous productive capacity, wages and prices) equilibria, especially the equilibrium values of the unemployment and capacity utilization rates, and of the proportion of sales-constrained firms. It is shown in particular that a large proportion of sales-constrained firms is not necessarily an indication that demand should be reflated. Le but de cet article est de montrer comment l’on peut intégrer dans un même modèle les développements récents sur la formation des prix et des salaires d’une part, et les apports de la théorie du déséquilibre d’autre part. Le modèle proposé est essentiellement un modèle à trois biens (biens produits, travail et monnaie) et deux marchés (biens et travail), auquel on ajoutera l’énergie afin d’illustrer les conséquences d’un choc pétrolier. Les prix sont fixés par des entreprises en concurrence monopolistique, les salaires par le syndicat des travailleurs. On détermine dans ce schéma les valeurs d’équilibre du taux de chômage, du taux d’utilisation des capacités et de la proportion d’entreprises contraintes par les débouchés. On analyse successivement les équilibres à court terme (capacité de production, prix et salaires fixes), moyen terme (capacité de production fixe; prix et salaires endogènes) et long terme (prix, salaires et capacité de production endogènes). On verra en particulier qu’une proportion élevée d’entreprises contraintes par les débouchés ne signifie nullement qu’une politique de relance puisse résorber le chômage.

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

Volume (Year): 68 (1992)
Issue (Month): 1 (mars et juin)
Pages: 140-174

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Handle: RePEc:ris:actuec:v:68:y:1992:i:1:p:140-174
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  1. Benassy Jean-pascal, 1974. "Neokeynesian disequilibrium theory in a monetary economy," CEPREMAP Working Papers (Couverture Orange) 7402, CEPREMAP.
  2. DREZE, Jacques H., . "Existence of an exchange equilibrium under price rigidites," CORE Discussion Papers RP -225, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Barro, Robert J, 1972. "A Theory of Monopolistic Price Adjustment," Review of Economic Studies, Wiley Blackwell, vol. 39(1), pages 17-26, January.
  4. Weitzman, Martin L, 1985. "The Simple Macroeconomics of Profit Sharing," American Economic Review, American Economic Association, vol. 75(5), pages 937-53, December.
  5. Ellis, Christopher J & Fender, John, 1985. "Wage Bargaining in a Macroeconomic Model with Rationing," The Quarterly Journal of Economics, MIT Press, vol. 100(3), pages 625-50, August.
  6. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-66, September.
  7. Barro, Robert J & Grossman, Herschel I, 1971. "A General Disequilibrium Model of Income and Employment," American Economic Review, American Economic Association, vol. 61(1), pages 82-93, March.
  8. Benassy, Jean-Pascal, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 43(1), pages 69-81, February.
  9. Sneessens, H. & Dreze, J., 1985. "A discussion of Belgian unemployment, combining traditional concepts and disequilibrium econometrics," CORE Discussion Papers 1985040, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Sneessens, Henri R., 1987. "Investment and the inflation-unemployment tradeoff in a macroeconomic rationing model with monopolistic competition," European Economic Review, Elsevier, vol. 31(3), pages 781-808, April.
  11. Sneessens, H. R., 1983. "A macroeconomic rationing model of the belgian economy," European Economic Review, Elsevier, vol. 20(1-3), pages 193-215, January.
  12. Oswald, Andrew J, 1985. " The Economic Theory of Trade Unions: An Introductory Survey," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 160-93.
  13. Barro, Robert J & Grossman, Herschel I, 1974. "Suppressed Inflation and the Supply Multiplier," Review of Economic Studies, Wiley Blackwell, vol. 41(1), pages 87-104, January.
  14. repec:cup:cbooks:9780521068659 is not listed on IDEAS
  15. McDonald, Ian M & Solow, Robert M, 1981. "Wage Bargaining and Employment," American Economic Review, American Economic Association, vol. 71(5), pages 896-908, December.
  16. Arnsperger, Christian & de la Croix, David, 1990. "Union Power and Price Fixation: A General Equilibrium Perspective," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1990015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
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