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Chômage involontaire et rationnement du crédit : une relecture de la relation salaire-emploi

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  • Nicolas Piluso

    (CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique, IUT Toulouse Auch Castres - Institut Universitaire de Technologie - Paul Sabatier - UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse)

Abstract

This article aims to establish a new type of relation between wage and employment. Following Keynes who has established a postulate of asymmetry between firms and workers by rejecting the "second classical postulate", we introduce, in addition to this postulate, an assumption of asymmetry between financial capital and firms. The latter makes it possible to obtain an imbalance of the credit market and of the labour market, while at the same time the market of the good is in balance. From now on, when the nominal wage decreases, the labour demand and the real wage remains inchanged.

Suggested Citation

  • Nicolas Piluso, 2011. "Chômage involontaire et rationnement du crédit : une relecture de la relation salaire-emploi," Post-Print hal-00809436, HAL.
    • Handle: RePEc:hal:journl:hal-00809436
    DOI: 10.3406/ecoap.2011.3584
    Note: View the original document on HAL open archive server: https://univ-tlse2.hal.science/hal-00809436v1
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    References listed on IDEAS

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    1. 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.
    2. Maitreesh Ghatak & Massimo Morelli & Tomas Sjoström, 2001. "Credit rationing, wealth inequality, and allocation of talent," ICER Working Papers - Applied Mathematics Series 23-2001, ICER - International Centre for Economic Research.
    3. Anil K Kashyap & Owen A. Lamont & Jeremy C. Stein, 1994. "Credit Conditions and the Cyclical Behavior of Inventories," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(3), pages 565-592.
    4. Jean Cartelier & Claude Jessua, 1996. "Chômage involontaire d'équilibre et asymétrie entre salariés et non-salariés : la loi de Walras restreinte," Revue Économique, Programme National Persée, vol. 47(3), pages 655-666.
    5. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    6. Blinder, Alan S, 1987. "Credit Rationing and Effective Supply Failures," Economic Journal, Royal Economic Society, vol. 97(386), pages 327-352, June.
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    Cited by:

    1. Nicolas Piluso & Gabriel Colletis, 2021. "A Keynesian reformulation of the WS-PS model: Keynesian unemployment and Classical unemployment," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(2), pages 447-460, July.
    2. Nicolas Piluso, 2013. "Keynes et les synthèses néoclassico-keynésiennes : les raisons d’un divorce analytique," Post-Print hal-01399164, HAL.
    3. Nicolas Piluso & Edwin Le Héron, 2017. "The Carbon Tax in a Keynesian Economy [La taxe carbone dans une économie d'inspiration keynésienne]," Post-Print hal-01454866, HAL.

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