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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

Listed author(s):
  • Jean-Luc Gaffard

    ()

    (SKEMA Business School - SKEMA Business School, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - CNRS - Centre National de la Recherche Scientifique, OFCE - Observatoire Français des Conjonctures économiques - Institut d'Études Politiques [IEP] - Paris - Fondation Nationale des Sciences Politiques [FNSP])

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.

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Paper provided by HAL in its series Post-Print with number halshs-00931247.

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Date of creation: 2014
Publication status: Published in Revue Economique, Presses de Sciences Po, 2014, 65 (1), pp.71-96
Handle: RePEc:hal:journl:halshs-00931247
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00931247
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