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La place de la notion de chômage involontaire dans la théorie keynésienne de l'emploi

  • Alain Béraud

    ()

    (THEMA - Théorie économique, modélisation et applications - Université de Cergy Pontoise - CNRS)

For a long time, the notion of involuntary unemployment occupied in the economic theory a central role. The expression appears very early, from the beginning of the 20th century, when the economists began to be interested in the unemployment. It indicates simply the unemployed who would agree to work at the prevailing wage rate. Keynes gave of this expression one much more narrow, different definition. The involuntary unemployment is, according to him, the unemployment which finds its origin in a deficiency in the demand for goods. At the beginning of 1970s, Phelps, Alchian and Holt set an analysis where the agents have only an imperfect information about wages and jobs. Their ideas were notably taken back and developed by Diamond, Mortensen and Pissarides. In the theory of the equilibrium unemployment, the opposition between voluntary unemployment and involuntary unemployment has no sense whatever we define the involuntary unemployment as Keynes or, more simply, as the excess supply of labour. But, more fundamentally, what this approach rejects is the idea that we can disregard the "frictional unemployment" in the analysis of the determination of the level of the employment. The decomposition of the unemployment in a series of categories - frictional, cyclic, voluntary, involuntary - may not help us in a theoretical or empirical analysis of the unemployment.

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Date of creation: 22 May 2008
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Publication status: Published in Christophe Lavialle. 12ème Colloque international de l'association Charles Gide pour l'étude de la pensée économique, May 2008, Orléans, France. Presses Universitaires François Rabelais, pp.277-290, 2011
Handle: RePEc:hal:journl:halshs-00269396
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00269396
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  1. Pissarides, C A, 1979. "Job Matchings with State Employment Agencies and Random Search," Economic Journal, Royal Economic Society, vol. 89(356), pages 818-33, December.
  2. Olivier Blanchard & Jordi Gali, 2007. "A New Keynesian Model with Unemployment," Kiel Working Papers 1335, Kiel Institute for the World Economy.
  3. Peter A. Diamond & Eric Maskin, 1979. "An Equilibrium Analysis of Search and Breach of Contract, I: Steady States," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 282-316, Spring.
  4. Robert E. Hall & Paul R. Milgrom, 2005. "The Limited Influence of Unemployment on the Wage Bargain," NBER Working Papers 11245, National Bureau of Economic Research, Inc.
  5. Olivier Blanchard & Jordi Galí, 2005. "Real Wage Rigidities and the New Keynesian Model," Working Papers 243, Barcelona Graduate School of Economics.
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  8. Yellen, Janet L, 1984. "Efficiency Wage Models of Unemployment," American Economic Review, American Economic Association, vol. 74(2), pages 200-205, May.
  9. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
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  14. Robert E. Hall, 1978. "A Theory of the Natural Unemployment Rate and the Duration of Employment," NBER Working Papers 0251, National Bureau of Economic Research, Inc.
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  16. Mauro Boianovsky & Hans-Michael Trautwein, 2003. "Wicksell, Cassel, and the Idea of Involuntary Unemployment," History of Political Economy, Duke University Press, vol. 35(3), pages 385-436, Fall.
  17. Edmund S. Phelps, 1968. "Money-Wage Dynamics and Labor-Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 76, pages 678.
  18. Laidler,David, 1999. "Fabricating the Keynesian Revolution," Cambridge Books, Cambridge University Press, number 9780521645966, June.
  19. Lucas, Robert E, Jr, 1978. "Unemployment Policy," American Economic Review, American Economic Association, vol. 68(2), pages 353-57, May.
  20. Robert Shimer, 2005. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies," American Economic Review, American Economic Association, vol. 95(1), pages 25-49, March.
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