IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

La crise de la macroéconomie, une conséquence de la méconnaissance des institutions?

  • Boyer, Robert

    (CEPREMAP)

Registered author(s):

    The paper provides a very brief and synthetic survey of major trends in macroeconomic modelling since General Theory. It argues that none of the numerous contemporary researches in macroeconomics seems to be able to explain the major stylized facts observed during the last two decades: an inflationary boom followed by disinflation, a slowing down of growth and productivity in spite of a burst of innovations, nominal and/or real wages rigidity, large hysteresis in unemployment and external disequilibria and finally the coexistence of contrasted national trajectories. No doubt that many fruitful theoretical insights have been provided and sophisticated econometric methods have delivered new and stimulating results. Nevertheless, an insufficient analysis of the impact of institutions upon individual behaviours and macroeconomic regularities might be a partial explanation of the present state of macroeconomic theory. This is a possible starting point for an alternative research agenda. Aucune des multiples théories macroéconomiques récemment élaborées ne parvient à expliquer la totalité des faits stylisés dont les deux dernières décennies ont été riches : accélération, rupture puis légère reprise de l’inflation, ralentissement de la croissance, paradoxe de la productivité, rigidité du salaire, persistance du chômage en Europe, polarisation des excédents et déficits extérieurs, coexistence de trajectoires nationales contrastées. Le caractère tout à fait partiel des explications ainsi fournies — que dissimulent parfois la sophistication des recherches économétriques — se double d’hypothèses souvent discutables concernant la nature du contexte institutionnel, caractéristique des économies réellement existantes. Même si la théorie des institutions économiques est aujourd’hui un domaine particulièrement actif, elle n’a pas encore suffisamment pénétré les recherches macroéconomiques. Le présent article suggère que nombre des faiblesses actuelles pourraient être surmontées par une plus grande attention accordée aux régularités macroéconomiques qu’induisent les institutions et formes d’organisation.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://id.erudit.org/iderudit/602059ar
    Download Restriction: no

    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: 43-68

    as
    in new window

    Handle: RePEc:ris:actuec:v:68:y:1992:i:1:p:43-68
    Contact details of provider: Web page: http://www.scse.ca/
    Email:


    More information through EDIRC

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Phelps, Edmund S., 1990. "Seven Schools of Macroeconomic Thought," OUP Catalogue, Oxford University Press, number 9780198283331.
    2. Lawson, Tony, 1989. "Abstraction, Tendencies and Stylised Facts: A Realist Approach to Economic Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 13(1), pages 59-78, March.
    3. Alberto Alesina, 1988. "Macroeconomics and Politics," NBER Chapters, in: NBER Macroeconomics Annual 1988, Volume 3, pages 13-62 National Bureau of Economic Research, Inc.
    4. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82.
    5. Akerlof, George A, 1984. "Gift Exchange and Efficiency-Wage Theory: Four Views," American Economic Review, American Economic Association, vol. 74(2), pages 79-83, May.
    6. N. Gregory Mankiw, 1990. "A Quick Refresher Course in Macroeconomics," NBER Working Papers 3256, National Bureau of Economic Research, Inc.
    7. Neary, J Peter, 1980. "Nontraded Goods and the Balance of Trade in a Neo-Keynesian Temporary Equilibrium," The Quarterly Journal of Economics, MIT Press, vol. 95(3), pages 403-29, November.
    8. Joseph E. Stiglitz, 1991. "Symposium on Organizations and Economics," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 15-24, Spring.
    9. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
    10. Aghion, Philippe & Howitt, Peter, 1991. "Unemployment : A symptom of stagnation or a side-effect of growth?," European Economic Review, Elsevier, vol. 35(2-3), pages 535-541, April.
    11. Boyer, Robert & Petit, Pascal, 1989. "Kaldor's growth theories : past, present and prospects," CEPREMAP Working Papers (Couverture Orange) 8905, CEPREMAP.
    12. Cohen, Daniel & Michel, Philippe, 1990. "Which rules rather than discretion in a democracy ? /i/," CEPREMAP Working Papers (Couverture Orange) 9008, CEPREMAP.
    13. Edmund S. Phelps, 1968. "Money-Wage Dynamics and Labor-Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 76, pages 678.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:68:y:1992:i:1:p:43-68. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruce Shearer)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.