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On the Macroeconomics of Uncertainty and Incomplete Markets

In: Advances in Macroeconomic Theory

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  • Jacques Drèze

    (Université Catholique de Louvain)

Abstract

As a full-time academic, I have led a rather uneventful life. Yet, I have engaged in two venturesome explorations. On my 65th birthday, my wife and I took off in our 42-ft sloop and sailed around the world. Also, I have explored some macroeconomic issues. That second venture proved more hazardous, more demanding and rather less rewarding than the first.

Suggested Citation

  • Jacques Drèze, 2001. "On the Macroeconomics of Uncertainty and Incomplete Markets," International Economic Association Series, in: Jacques Drèze (ed.), Advances in Macroeconomic Theory, chapter 3, pages 30-55, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-0-333-99275-3_3
    DOI: 10.1057/9780333992753_3
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    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Hoog, S. van der, 2004. "On the Micro-Dynamics of a Cash-in-Advance Economy," CeNDEF Working Papers 04-12, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    2. Olivier SCAILLET, 2001. "Density Estimation Using Inverse and Reciprocal Inverse Guassian Kernels," LIDAM Discussion Papers IRES 2001017, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    3. Alessandro Citanna & Hervé Crès & Jacques H Drèze & P. Jean-Jacques Herings & Antonio Villanacci, 2001. "Underemployment of Resources and Self-Fulfilling Beliefs: Nonwalrasian Allocations at Walrasian Prices," SciencePo Working papers Main hal-01064886, HAL.
    4. E. Abdul Azeez, 2002. "Economic reforms and industrial performance: An analysis of capacity utilisation in Indian manufacturing," Centre for Development Studies, Trivendrum Working Papers 334, Centre for Development Studies, Trivendrum, India.
    5. repec:hal:spmain:info:hdl:2441/10287 is not listed on IDEAS
    6. Jacques H. Drèze & P. Jean‐Jacques Herings, 2008. "Kinky perceived demand curves and Keynes–Negishi equilibria," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(2), pages 207-246, June.
    7. Citanna, Alessandro & Cres, Herve & Dreze, Jacques & Herings, P. Jean-Jacques & Villanacci, Antonio, 2001. "Continua of underemployment equilibria reflecting coordination failures, also at Walrasian prices," Journal of Mathematical Economics, Elsevier, vol. 36(3), pages 169-200, December.
    8. Gerald Stuber, 2001. "Implications of Uncertainty about Long-Run Inflation and the Price Level," Staff Working Papers 01-16, Bank of Canada.
    9. Sander van der Hoog, 2004. "Credit and Cash-in-Advance in Disequilibrium Models," Computing in Economics and Finance 2004 294, Society for Computational Economics.
    10. Alessandro Citanna & Herve Cres & Antonio Villanacci, "undated". "Underemployment of resources and self-fulfilling beliefs: Nonwalrasian allocations at walrasian prices," GSIA Working Papers 11, Carnegie Mellon University, Tepper School of Business.
    11. Fagnart, Jean-Francois & Pierrard, O. & Sneessens, Henri R., 2007. "Microeconomic uncertainty and macroeconomic indeterminacy," European Economic Review, Elsevier, vol. 51(6), pages 1564-1588, August.
    12. repec:spo:wpecon:info:hdl:2441/10287 is not listed on IDEAS
    13. Bruinshoofd, W.A. & Letterie, W.A., 2001. "Comovement of sales, retention practice and financing constraints in Dutch manufacturing," Research Memorandum 003, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    14. repec:hal:wpspec:info:hdl:2441/10287 is not listed on IDEAS

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    More about this item

    Keywords

    American Economic Review; Excess Demand; Competitive Equilibrium; Incomplete Market; Spot Market;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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