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Confiance et valeur réelle de la monnaie dans une économie générations imbriquées

Author

Listed:
  • Philippe Weil

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

Dans une économie à générations imbriquées, qui est pourvue d'une fonction de production n?o-classique, dont la population croit et où il n'y a pas d'incertitude intrinsèque, une condition nécessaire et suffisante del'existence de bulles stochastiques spéculatives sur un actif intrinsèquement inutile est que la probabilité q que la bulle durera soit suffisamment élevée et supérieure à une valeur-plancher q que nous appelons le taux minimum de confiance. Cette condition est toujours violée lorsque l'équilibre, non-monétaire, de l'économie de Diamond est dynamiquement efficace (...).

Suggested Citation

  • Philippe Weil, 1985. "Confiance et valeur réelle de la monnaie dans une économie générations imbriquées," SciencePo Working papers Main hal-03393152, HAL.
    • Handle: RePEc:hal:spmain:hal-03393152
    DOI: 10.2307/20075582
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03393152
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