IDEAS home Printed from https://ideas.repec.org/p/cpm/cepmap/7601.html
   My bibliography  Save this paper

Théorie de l'équilibre temporaire général

Author

Listed:
  • Grandmont Jean-michel

Abstract

[fre] Cet ouvrage fait le point des recherches théoriques récentes sur des économies où l'échange a lieu séquentiellement au cours du temps et où chaque agent prend à chaque instant des décisions au vu de ses anticipations concernant son envi­ronnement futur. L'accent est porté particulièrement sur les problèmes soulevés par la spéculation sur les marchés à terme (marchés des capitaux), ainsi que par la prise en compte de la monnaie et des activités bancaires dans les modèles d'équilibre temporaire concurrentiel, où les ajustements se font uniquement par les prix. Une analyse de la logique des modèles d'équilibre temporaire avec rationnement quantitatif est également présentée. [eng] Temporary general equilibrium theory. . This paper surveys some recent studies of economics where trading takes place sequentially over time, and where each agent makes decisions af every moment in the light of his expectations about his future environnent. The paper reviews particularly the issues raised by speculation in capital markets, and by the consideration of money and banking activities in temporary competitive equitibrium models, where adjustments take place by means of price movements only. A thorough investigation of the logic of temporary equilibrium models with quantity rationing is also offered.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Grandmont Jean-michel, 1976. "Théorie de l'équilibre temporaire général," CEPREMAP Working Papers (Couverture Orange) 7601, CEPREMAP.
    • Handle: RePEc:cpm:cepmap:7601
    as

    Download full text from publisher

    File URL: http://www.cepremap.fr/depot/couv_orange/co7601.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Radner, Roy, 1970. "Problems in the Theory of Markets under Uncertainty," American Economic Review, American Economic Association, vol. 60(2), pages 454-460, May.
    2. Jean-Michel Grandmont & Yves Younes, 1972. "On the Role of Money and the Existence of a Monetary Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 39(3), pages 355-372.
    3. Frank Hahn, 1973. "On Transaction Costs, Inessential Sequence Economies and Money," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 40(4), pages 449-461.
    4. Grandmont, Jean-Michel & Laroque, Guy, 1976. "The Liquidity Trap," Econometrica, Econometric Society, vol. 44(1), pages 129-135, January.
    5. Hahn, F H, 1971. "Equilibrium with Transaction Costs," Econometrica, Econometric Society, vol. 39(3), pages 417-439, May.
    6. DELBAEN, Freddy, 1974. "Continuity of the expected utility," LIDAM Reprints CORE 194, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Jean-Michel Grandmont & Yves Younes, 1973. "On the Efficiency of a Monetary Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 40(2), pages 149-165.
    8. Jean-Michel Grandmont, 1974. "On the Short-Run Equilibrium in a Monetary Economy," International Economic Association Series, in: Jacques H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality, chapter 12, pages 213-228, Palgrave Macmillan.
    9. Grandmont, Jean-Michel & Laroque, Guy, 1973. "Money in the pure consumption loan model," Journal of Economic Theory, Elsevier, vol. 6(4), pages 382-395, August.
    10. Katsuhito Iwai, 1974. "The Firm in Uncertain Markets and Its Price, Wage and Employment Adjustments," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(2), pages 257-276.
    11. Barro, Robert J & Grossman, Herschel I, 1971. "A General Disequilibrium Model of Income and Employment," American Economic Review, American Economic Association, vol. 61(1), pages 82-93, March.
    12. E. Glustoff, 1968. "On the Existence of a Keynesian Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 35(3), pages 327-334.
    13. J.-M. Grandmont & G. Laroque, 1977. "On Temporary Keynesian Equilibrium," International Economic Association Series, in: G. C. Harcourt (ed.), The Microeconomic Foundations of Macroeconomics, chapter 2, pages 41-61, Palgrave Macmillan.
    14. Benassy, Jean-Pascal, 1975. "Disequilibrium Exchange in Barter and Monetary Economies," Economic Inquiry, Western Economic Association International, vol. 13(2), pages 131-156, June.
    15. Gale, David, 1973. "Pure exchange equilibrium of dynamic economic models," Journal of Economic Theory, Elsevier, vol. 6(1), pages 12-36, February.
    16. SONDERMAN, Dieter, 1974. "Temporary competitive equilibrium under uncertainty," LIDAM Reprints CORE 199, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    17. Kurz, Mordecai, 1974. "Equilibrium in a Finite Sequence of Markets with Transaction Cost," Econometrica, Econometric Society, vol. 42(1), pages 1-20, January.
    18. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    19. Stigum, Bernt P, 1972. "Resource Allocation under Uncertainty," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(3), pages 431-459, October.
    20. Dieter Sondermann, 1974. "Temporary Competitive Equilibrium Under Uncertainty," International Economic Association Series, in: Jacques H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality, chapter 13, pages 229-253, Palgrave Macmillan.
    21. Jean-Pascal Benassy, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 43(1), pages 69-81.
    22. Green, Jerry R, 1973. "Temporary General Equilibrium in a Sequential Trading Model with Spot and Futures Transactions," Econometrica, Econometric Society, vol. 41(6), pages 1103-1123, November.
    23. Jean-Michel Grandmont & Guy Laroque, 1975. "On Money and Banking," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 42(2), pages 207-236.
    24. Bernt P. Stigum, 1969. "Competitive Equilibria under Uncertainty," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 83(4), pages 533-561.
    25. Stigum, Bernt P, 1969. "Entrepreneurial Choice Over Time under Conditions of Uncertainty," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(3), pages 426-442, October.
    26. F. Delbaen, 1974. "Continuity of the Expected Utility," International Economic Association Series, in: Jacques H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality, chapter 14, pages 254-256, Palgrave Macmillan.
    27. Gerard Debreu, 1956. "Market Equilibrium," Cowles Foundation Discussion Papers 10, Cowles Foundation for Research in Economics, Yale University.
    28. Grandmont, Jean-Michel & Hildenbrand, Werner, 1974. "Stochastic processes of temporary equilibria," Journal of Mathematical Economics, Elsevier, vol. 1(3), pages 247-277, December.
    29. Radner, Roy, 1972. "Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets," Econometrica, Econometric Society, vol. 40(2), pages 289-303, March.
    30. Helpman, Elhanan & Laffont, Jean-Jacques, 1975. "On moral hazard in general equilibrium theory," Journal of Economic Theory, Elsevier, vol. 10(1), pages 8-23, February.
    31. Grandmont, Jean-Michel, 1972. "Continuity properties of a von Neumann-Morgenstern utility," Journal of Economic Theory, Elsevier, vol. 4(1), pages 45-57, February.
    32. David Starrett, 1973. "Inefficiency and the Demand for "Money" in a Sequence Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 40(4), pages 437-448.
    33. Hart, Oliver D., 1974. "On the existence of equilibrium in a securities model," Journal of Economic Theory, Elsevier, vol. 9(3), pages 293-311, November.
    34. Grossman, Herschel I, 1971. "Money, Interest, and Prices in Market Disequilibrium," Journal of Political Economy, University of Chicago Press, vol. 79(5), pages 943-961, Sept.-Oct.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Antoine d'Autume, 1982. "L'introduction du temps dans la théorie de l'équilibre général," Cahiers d'Économie Politique, Programme National Persée, vol. 7(1), pages 93-127.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bewley, Truman, 1983. "A Difficulty with the Optimum Quantity of Money," Econometrica, Econometric Society, vol. 51(5), pages 1485-1504, September.
    2. Jean-Pascal Benassy, 1976. "Théorie du déséquilibre et fondements micro-économiques de la macroéconomie," Revue Économique, Programme National Persée, vol. 27(5), pages 755-804.
    3. Ross M. Starr, 2012. "Why is there Money?," Books, Edward Elgar Publishing, number 13763.
    4. Céline Rochon & Herakles Polemarchakis, 2006. "Debt, liquidity and dynamics," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(1), pages 179-211, January.
    5. Dubey, Pradeep & Geanakoplos, John, 2003. "Monetary equilibrium with missing markets," Journal of Mathematical Economics, Elsevier, vol. 39(5-6), pages 585-618, July.
    6. Benassy, Jean-Pascal, 1990. "Non-Walrasian equilibria, money, and macroeconomics," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 4, pages 103-169, Elsevier.
    7. Jean-Michel Grandmont, 2006. "Temporary Equilibrium," Working Papers 2006-27, Center for Research in Economics and Statistics.
    8. Levin, Mark (Левин, Марк), 2017. "Modeling of Economic Systems Under Conditions of Short-Term Market Disequilibrium [Моделирование Экономических Систем В Условиях Краткосрочного Рыночного Неравновесия]," Working Papers 041709, Russian Presidential Academy of National Economy and Public Administration.
    9. Dimitrios Tsomocos, 2003. "Equilibrium analysis, banking, contagion and financial fragility," FMG Discussion Papers dp450, Financial Markets Group.
    10. Ichiishi, Tatsuro, 1985. "Management versus ownership, II," European Economic Review, Elsevier, vol. 27(2), pages 115-138, March.
    11. Aloisio Araujo & Mario Pascoa & Juan Pablo Torres-Martinez, 2005. "Bubbles, collateral and monetary equilibrium," Textos para discussão 513, Department of Economics PUC-Rio (Brazil).
    12. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.
    13. Mário Páscoa & Myrian Petrassi & Juan Torres-Martínez, 2011. "Fiat money and the value of binding portfolio constraints," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(2), pages 189-209, February.
    14. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, January.
    15. Fluet, Claude, 1985. "Bénassy et la macroéconomie du déséquilibreJean-Pascal Bénassy, Macréoconomie et théorie du déséquilibre, Dunod, Paris, 1984," L'Actualité Economique, Société Canadienne de Science Economique, vol. 61(2), pages 239-251, juin.
    16. Grandmont, Jean-michel, 1989. "Keynesian issues and economic theory," CEPREMAP Working Papers (Couverture Orange) 8907, CEPREMAP.
    17. Charalambos Aliprantis & Kim Border & Owen Burkinshaw, 1996. "Market economies with many commodities," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 19(1), pages 113-185, March.
    18. Starr, Ross M., 2002. "Existence of Uniqueness of "Money" in General Equilibrium: Natural Monopoly in the Most Liquid Asset," University of California at San Diego, Economics Working Paper Series qt660465rm, Department of Economics, UC San Diego.
    19. César L. Guerrero-Luchtenberg, 2004. "Alternative Dynamics and Stability Results in a Standard OLG Model. An Interpretation," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(2), pages 191-208, July-Dece.
    20. Ha-Huy, Thai & Le Van, Cuong & Tran-Viet, Cuong, 2018. "Arbitrage and equilibrium in economies with short-selling and ambiguity," Journal of Mathematical Economics, Elsevier, vol. 76(C), pages 95-100.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpm:cepmap:7601. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sébastien Villemot (email available below). General contact details of provider: https://edirc.repec.org/data/ceprefr.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.