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Contraintes de débouchés, capacités de production et chômage dans un modèle macroéconomique avec concurrence imparfaite

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  • Sneessens, Henri R.

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

Abstract

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.

Suggested Citation

  • Sneessens, Henri R., 1991. "Contraintes de débouchés, capacités de production et chômage dans un modèle macroéconomique avec concurrence imparfaite," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1991011, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  • Handle: RePEc:ctl:louvir:1991011
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    1. 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).
    2. Sneessens, H. R., 1983. "A macroeconomic rationing model of the belgian economy," European Economic Review, Elsevier, vol. 20(1-3), pages 193-215, January.
    3. 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 89-119, Supplemen.
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    6. Oswald, Andrew J, 1985. " The Economic Theory of Trade Unions: An Introductory Survey," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 160-193.
    7. Jean-Pascal Benassy, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 69-81.
    8. 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.
    9. Robert J. Barro & Herschel I. Grossman, 1974. "Suppressed Inflation and the Supply Multiplier," Review of Economic Studies, Oxford University Press, vol. 41(1), pages 87-104.
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    Cited by:

    1. Éric Heyer & Xavier Timbeau, 2002. "Le chômage structurel à 5 % en France ?," Revue de l'OFCE, Presses de Sciences-Po, vol. 80(1), pages 115-151.
    2. de la Croix, David & Fagnart, Jean-Francois, 1995. "Underemployment of production factors in a forward-looking model," Labour Economics, Elsevier, vol. 2(2), pages 131-159, June.

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    Keywords

    chômage; production; concurrence;

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