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Monnaie et cycles

  • Cho, Jang-Ok

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

  • Phaneuf, Louis

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

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    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.

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

    Volume (Year): 71 (1995)
    Issue (Month): 2 (juin)
    Pages: 163-192

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    Handle: RePEc:ris:actuec:v:71:y:1995:i:2:p:163-192
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    1. Cooley, T.F. & Cho, J.O., 1991. "The Business Cycle with Nominal Contracts," Papers 90-07, Rochester, Business - General.
    2. Juster, F. Thomas & Stafford, Frank P., 1990. "The Allocation of Time: Empirical Findings, Behavioural Models, and Problems of Measurement," Working Paper Series 258, Research Institute of Industrial Economics.
    3. Gary Hansen, 2010. "Indivisible Labor and the Business Cycle," Levine's Working Paper Archive 233, David K. Levine.
    4. Jang-Ok Cho & Louis Phaneuf, 1993. "A business cycle model with nominal wage contracts and government," Discussion Paper / Institute for Empirical Macroeconomics 80, Federal Reserve Bank of Minneapolis.
    5. Robert E. Lucas Jr. & Nancy L. Stokey, 1984. "Money and Interest in Cash-In-Advance Economy," Discussion Papers 628, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    6. Cooley, T.F. & Hansen, G.D., 1988. "The Inflation Tax In A Real Business Cycle Model," Papers 88-05, Rochester, Business - General.
    7. McGrattan, Ellen R., 1994. "The macroeconomic effects of distortionary taxation," Journal of Monetary Economics, Elsevier, vol. 33(3), pages 573-601, June.
    8. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
    9. repec:nbr:nberre:0126 is not listed on IDEAS
    10. Taylor, John B, 1980. "Aggregate Dynamics and Staggered Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 1-23, February.
    11. Gray, Jo Anna, 1976. "Wage indexation: A macroeconomic approach," Journal of Monetary Economics, Elsevier, vol. 2(2), pages 221-235, April.
    12. Lucas, Robert E, Jr, 1973. "Some International Evidence on Output-Inflation Tradeoffs," American Economic Review, American Economic Association, vol. 63(3), pages 326-34, June.
    13. Jang-Ok Cho & Thomas Cooley & Louis Phaneuf, 1994. "The Welfare Costs of Nominal Wage Contracting," Cahiers de recherche CREFE / CREFE Working Papers 30, CREFE, Université du Québec à Montréal, revised 22 Jan 1996.
    14. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
    15. 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.
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