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La traverse de Hicks dans son modèle horizontal bisectoriel : le réaménagement de la structure productive

Listed author(s):
  • Henry, Jacques

    (Département de Science économique)

  • Lavoie, Marc

    (Département de Science économique)

The works of John Hicks are well known, save for his analysis of the traverse. The paper examines his two-sector model, where the full employment of labour and full utilization of capacity is maintained throughout the transition path towards a new growth regime. The focus here is on: the dynamics of the required reproportioning of the labour force and of the capital stock for the above condition to be maintained; the dynamics in relative prices and distribution variables for effective demand conditions to be fulfilled; the graphical representation of such a process of reproportioning, both in the quantity and the price spaces. The unsuccessful traverse in the lesser-discussed cases of unsustainable growth and dynamic instability is also ascertained. L’une des contributions originales méconnues de John Hicks est son analyse de la traverse. Le présent travail éexamine son modèle horizontal bisectoriel, avec la transition d’un régime de croissance à un autre, sous la condition du plein emploi des capacités productives et de la main-d’oeuvre. On analysera en particulier : la dynamique du réaménagement des travailleurs et du stock de capital, conséquence de la condition évoquée ci-dessus ; la dynamique des prix relatifs et des variables de répartition, sujets à la contrainte de la demande effective ; la représentation graphique de ces réaménagements, autant dans le champ des quantités que dans celui des valeurs. On portera une attention particulière aux cas d’instabilité dynamique et de croissance insoutenable, quand la traverse ne peut être complétée.

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

Volume (Year): 78 (2002)
Issue (Month): 1 (Mars)
Pages: 87-114

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Handle: RePEc:ris:actuec:v:78:y:2002:i:1:p:87-114
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  1. Joseph Halevi, 1985. "Switching and Employment," Eastern Economic Journal, Eastern Economic Association, vol. 11(3), pages 229-234, Jul-Sep.
  2. Paul A. Samuelson, 1975. "Steady-State and Transient Relations: A Reply on Reswitching," The Quarterly Journal of Economics, Oxford University Press, vol. 89(1), pages 40-47.
  3. Dumenil, Gerard & Levy, Dominique, 1999. "Being Keynesian in the Short Term and Classical in the Long Term: The Traverse to Classical Long-Term Equilibrium," Manchester School, University of Manchester, vol. 67(6), pages 684-716, December.
  4. O'Connell, Joan, 1978. "Savings and Prices in a Full-Employment Traverse," Oxford Economic Papers, Oxford University Press, vol. 30(3), pages 458-463, November.
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