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Crise de la théorie et crise de la politique économique : des modèles d'équilibre général stochastique aux modèles de dynamique hors de l'équilibre

Author

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  • Jean-Luc Gaffard

    (SKEMA Business School - SKEMA Business School, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur, OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

Dans cet article, une évaluation critique des modèles d'équilibre général dynamique stochastique, qui constituent le fondement théorique des politiques mises en œuvre par les banques centrale, est le point de départ pour reconsidérer la nature des fluctuations et produire des arguments en faveur d'une approche " hors de l'équilibre ". Cette dernière met l'accent sur les distorsions de la capacité productive induites par tout changement structurel et montre pourquoi et comment l'incohérence temporelle entre les phases de construction et d'utilisation de la capacité productive a une contrepartie monétaire et financière qui peut engendrer une instabilité globale. Elle appelle une révision des objectifs de la politique monétaire et un nouveau Policy mix.

Suggested Citation

  • Jean-Luc Gaffard, 2014. "Crise de la théorie et crise de la politique économique : des modèles d'équilibre général stochastique aux modèles de dynamique hors de l'équilibre," Post-Print halshs-00931247, HAL.
    • Handle: RePEc:hal:journl:halshs-00931247
    DOI: 10.3917/reco.651.0071
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    More about this item

    Keywords

    business fluctuations; monetary policy; policy objectives; Macroeconomics and monetary economics;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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