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Monnaie et cycles

Author

Listed:
  • Cho, Jang-Ok

    (Département d’économique, Université Sogang, Séoul, Corée)

  • Phaneuf, Louis

    (Département des sciences économiques, Université du Québec à Montréal)

Abstract

This is a survey of the main business cycle models that have been developed since the early '80s. It emphasizes the incorporation of money in the neoclassical growth model. It argues that money contributes substantially to aggregate fluctuations only if nominal rigidities are introduced in the model. Ce texte offre un survol des principaux modèles du cycle économique qui ont été développés depuis le début des années 1980 en mettant un accent particulier sur l’incorporation de la monnaie dans le modèle néoclassique de croissance. Il défend le point de vue que la monnaie ne contribue substantiellement aux fluctuations agrégées qu’en incorporant des rigidités nominales au modèle.

Suggested Citation

  • Cho, Jang-Ok & Phaneuf, Louis, 1995. "Monnaie et cycles," L'Actualité Economique, Société Canadienne de Science Economique, vol. 71(2), pages 163-192, juin.
  • Handle: RePEc:ris:actuec:v:71:y:1995:i:2:p:163-192
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    References listed on IDEAS

    as
    1. Cho, Jang-Ok & Cooley, Thomas F, 1995. "The Business Cycle with Nominal Contracts," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), pages 13-33.
    2. Cooley, Thomas F & Hansen, Gary D, 1989. "The Inflation Tax in a Real Business Cycle Model," American Economic Review, American Economic Association, pages 733-748.
    3. Hansen, Gary D., 1985. "Indivisible labor and the business cycle," Journal of Monetary Economics, Elsevier, vol. 16(3), pages 309-327, November.
    4. Lucas, Robert E, Jr, 1973. "Some International Evidence on Output-Inflation Tradeoffs," American Economic Review, American Economic Association, vol. 63(3), pages 326-334, June.
    5. Marianne Baxter & Robert G. King, 1999. "Measuring Business Cycles: Approximate Band-Pass Filters For Economic Time Series," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 575-593, November.
    6. Taylor, John B, 1980. "Aggregate Dynamics and Staggered Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 1-23, February.
    7. Lucas, Robert E, Jr & Stokey, Nancy L, 1987. "Money and Interest in a Cash-in-Advance Economy," Econometrica, Econometric Society, vol. 55(3), pages 491-513, May.
    8. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
    9. Gray, Jo Anna, 1976. "Wage indexation: A macroeconomic approach," Journal of Monetary Economics, Elsevier, vol. 2(2), pages 221-235, April.
    10. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    11. McGrattan, Ellen R., 1994. "The macroeconomic effects of distortionary taxation," Journal of Monetary Economics, Elsevier, pages 573-601.
    12. Louis Phaneuf & Jang-Ok Cho, 1992. "A Business Cycle Model with Nominal Wage Contracts and Government," Cahiers de recherche CREFE / CREFE Working Papers 6, CREFE, Université du Québec à Montréal, revised Jan 1993.
    13. Juster, F Thomas & Stafford, Frank P, 1991. "The Allocation of Time: Empirical Findings, Behavioral Models, and Problems of Measurement," Journal of Economic Literature, American Economic Association, vol. 29(2), pages 471-522, June.
    14. Jang-Ok Cho & Thomas F. Cooley & Louis Phaneuf, 1997. "The Welfare Cost of Nominal Wage Contracting," Review of Economic Studies, Oxford University Press, vol. 64(3), pages 465-484.
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