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Un modèle macroéconomique de chômage avec concurrence imparfaite et anticipations rationnelles


  • Bénassy, Jean-Pascal



We construct in this article a macroeconomic model of unemployment with imperfect competition (based on objective demand curves) and rational expectations, and we study its characteristics, in order notably to compare them with those of usual Keynesian and Walrasian macroeconomic models. We first see that the model's equilibrium displays properties of inefficiency and underemployment of resources (notably labor) which are very similar to those of a Keynesian equilibrium with rigid prices and general excess supply. Inspite of this a proportional increase of the quantity of money is neutral, just as in a Walrasian model. We finally find that the normative prescriptions of the model concerning public spending are neither Keynesian nor Walrasian. Nous construisons dans cet article un modèle macroéconomique de chômage avec concurrence imparfaite (basée sur des courbes de demande objectives) et anticipations rationnelles, et nous en étudions les caractéristiques, dans le but notamment de les comparer à celles des modèles macroéconomiques keynésiens et walrasiens habituels. On voit tout d’abord que l’équilibre du modèle a des propriétés d’inefficacité et de sous-emploi des ressources (notamment du travail) très semblables à celles d’un équilibre keynésien à prix rigides et excès d’offre généralisé. Malgré cela un accroissement proportionnel de la quantité de monnaie est neutre, tout comme dans un modèle walrasien. Finalement on trouve que les recommandations normatives quant aux dépenses publiques ne sont ni keynésiennes, ni walrasiennes.

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  • Bénassy, Jean-Pascal, 1992. "Un modèle macroéconomique de chômage avec concurrence imparfaite et anticipations rationnelles," L'Actualité Economique, Société Canadienne de Science Economique, vol. 68(1), pages 23-42, mars et j.
  • Handle: RePEc:ris:actuec:v:68:y:1992:i:1:p:23-42

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    References listed on IDEAS

    1. Weitzman, Martin L, 1982. "Increasing Returns and the Foundations of Unemployment Theory," Economic Journal, Royal Economic Society, vol. 92(368), pages 787-804, December.
    2. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
    3. Benassy, Jean-Pascal, 1987. "The Objective Demand Curve in General Equilibrium with Price Makers," Economic Journal, Royal Economic Society, vol. 98(390), pages 37-49, Supplemen.
    4. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-666, September.
    5. Jacobsen, Hans Jorgen & Schultz, Christian, 1990. " A General Equilibrium Macro Model with Wage Bargaining," Scandinavian Journal of Economics, Wiley Blackwell, vol. 92(3), pages 379-398.
    6. Benassy, Jean-Pascal, 1987. "Imperfect competition, unemployment and policy," European Economic Review, Elsevier, vol. 31(1-2), pages 417-426.
    7. Weitzman, Martin L, 1985. "The Simple Macroeconomics of Profit Sharing," American Economic Review, American Economic Association, vol. 75(5), pages 937-953, December.
    8. Frank Hahn, 1978. "On Non-Walrasian Equilibria," Review of Economic Studies, Oxford University Press, vol. 45(1), pages 1-17.
    9. Oliver Hart, 1982. "A Model of Imperfect Competition with Keynesian Features," The Quarterly Journal of Economics, Oxford University Press, vol. 97(1), pages 109-138.
    10. Jean-Pascal Benassy, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 69-81.
    11. Silvestre, Joaquim, 1988. "Undominated prices in the three good model," European Economic Review, Elsevier, vol. 32(1), pages 161-178, January.
    12. Dixon, Huw, 1987. "A Simple Model of Imperfect Competition with Walrasian Features," Oxford Economic Papers, Oxford University Press, vol. 39(1), pages 134-160, March.
    13. Benassy, Jean-Pascal, 1993. "Imperfect competition and the suboptimality of rational expectations," European Economic Review, Elsevier, vol. 37(7), pages 1315-1330, October.
    14. 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.
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