The rise and fall of French disequilibrium macroeconomics: the case of Jean-Pascal Bénassy (1948–2022)

Sylvie Rivot

The European Journal of the History of Economic Thought, 2025, vol. 32, issue 3, 397-417

Abstract: We examine the contributions made by Jean-Pascal Bénassy (1948–2022) to disequilibrium macroeconomics from the mid-1970s to the early-1980s. To assess the achievements made by Bénassy during that period, we focus attention on the following issues: the technology of exchange and the place given to money, the design of effective demand functions and the framing of expectations, price dynamics and the process of price formation, and lastly the three-regimes model and its account of involuntary unemployment.

Date: 2025
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DOI: 10.1080/09672567.2025.2491309

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