Contraintes de débouchés, capacités de production et chômage dans un modèle macroéconomique avec concurrence imparfaite
The purpose of this paper is to show how to combine in a unified setup recent developments on wage and price formation together with the key features of models with quantity constraints. This is done in a traditional three-goods (goods, labor and money) two-markets (goods and labor) setup, plus energy for the analysis of the consequences of an oil shock. Prices are set by monopolistically competitive firms ; the wage rate is set by the union. We examine successively the properties of the short-run (fixed productive capacity ; fixed prices and wages), the medium-run (fixed productive capacity ; endogenous prices and wages), and the long-run (endogenous productive capacity, wages and prices) equilibria, especially the equilibrium values of the unemployment and capacity utilization rates, and of the proportion of sales-constrained firms. It is shown in particular that a large proportion of sales-constrained firms is not necessarily an indication that demand should be reflated.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||01 Jul 1991|
|Date of revision:|
|Contact details of provider:|| Postal: |
Fax: +32 10473945
Web page: http://www.uclouvain.be/ires
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Benassy, Jean-Pascal, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 43(1), pages 69-81, February.
- Benassy Jean-pascal, 1974.
"Neokeynesian disequilibrium theory in a monetary economy,"
CEPREMAP Working Papers (Couverture Orange)
- Benassy, Jean-Pascal, 1975. "Neo-Keynesian Disequilibrium Theory in a Monetary Economy," Review of Economic Studies, Wiley Blackwell, vol. 42(4), pages 503-23, October.
- repec:cup:cbooks:9780521068659 is not listed on IDEAS
- Barro, Robert J & Grossman, Herschel I, 1974. "Suppressed Inflation and the Supply Multiplier," Review of Economic Studies, Wiley Blackwell, vol. 41(1), pages 87-104, January.
- Ellis, Christopher J & Fender, John, 1985. "Wage Bargaining in a Macroeconomic Model with Rationing," The Quarterly Journal of Economics, MIT Press, vol. 100(3), pages 625-50, August.
- Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-66, September.
- Sneessens, H. & Dreze, J., 1985.
"A discussion of Belgian unemployment, combining traditional concepts and disequilibrium econometrics,"
CORE Discussion Papers
1985040, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Sneessens, Henri R & Dreze, Jacques H, 1986. "A Discussion of Belgian Unemployment, Combining Traditional Concepts and Disequilibrium Econometrics," Economica, London School of Economics and Political Science, vol. 53(210(S)), pages S89-119, Supplemen.
- SNEESSENS, Henri R. & DREZE, Jacques H., . "A discussion of Belgian unemployment, combining traditional concepts and disequilibrium econometrics," CORE Discussion Papers RP -704, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Barro, Robert J, 1972. "A Theory of Monopolistic Price Adjustment," Review of Economic Studies, Wiley Blackwell, vol. 39(1), pages 17-26, January.
- McDonald, Ian M & Solow, Robert M, 1981. "Wage Bargaining and Employment," American Economic Review, American Economic Association, vol. 71(5), pages 896-908, December.
- Sneessens, H. R., 1983. "A macroeconomic rationing model of the belgian economy," European Economic Review, Elsevier, vol. 20(1-3), pages 193-215, January.
- Weitzman, Martin L, 1985.
"The Simple Macroeconomics of Profit Sharing,"
American Economic Review,
American Economic Association, vol. 75(5), pages 937-53, December.
- Arnsperger, Christian & de la Croix, David, 1990. "Union Power and Price Fixation: A General Equilibrium Perspective," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1990015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Oswald, Andrew J, 1985. " The Economic Theory of Trade Unions: An Introductory Survey," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 160-93.
- Sneessens, Henri R., 1987. "Investment and the inflation-unemployment tradeoff in a macroeconomic rationing model with monopolistic competition," European Economic Review, Elsevier, vol. 31(3), pages 781-808, April.
- 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.
- Dreze, Jacques H, 1975.
"Existence of an Exchange Equilibrium under Price Rigidities,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 301-20, June.
- DREZE, Jacques H., . "Existence of an exchange equilibrium under price rigidites," CORE Discussion Papers RP -225, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
When requesting a correction, please mention this item's handle: RePEc:ctl:louvir:1991011. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anne DAVISTER-LOGIST)
If references are entirely missing, you can add them using this form.