Indétermination de l'équilibre keynésien et loi de Walras restreinte

Jérôme de Boyer des Roches

Revue économique, 2009, vol. 60, issue 1, 59-79

Abstract: We show that the equilibrium in a Keynesian model with as many equations as markets is undetermined. This is because the equation for the labor market does not contribute to the determination of the equilibrium : the Walras?s law holds only for markets for goods, assets and cash balance. For an equilibrium to be determined, we need to add an additional equation, which does not describe the equilibrium condition of a market. We discuss the additional equation introduced by Hicks [1937], Hansen [1953], Patinkin [1965] and the ad-as model. Classification JEL : E, B 22

Date: 2009
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_601_0059 (application/pdf)
http://www.cairn.info/revue-economique-2009-1-page-59.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:recosp:reco_601_0059

Access Statistics for this article

More articles in Revue économique from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().