The Applied General-Equilibrium Program of the ENSAE's Band

Romain Plassard
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Romain Plassard: LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - ULCO - Université du Littoral Côte d'Opale - Université de Lille - CNRS - Centre National de la Recherche Scientifique, LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique

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Abstract: What was driving the estimation of general-equilibrium models with rationing (GEMR)? Our article explores this issue by focusing on the research led by a group of French econometricians aka the "ENSAE's Band" (named in reference to the National School of Statistics and Economic Administration). We show that the estimation of GEMR aimed to empirically discriminate between equilibrium and disequilibrium macroeconomics and provide a policy analysis tool. Since both projects required addressing the microfoundations of macroeconomics, our article also shows that there was an applied side to what Kevin D. Hoover called the "general-equilibrium program" Hoover (Citation2012).

Keywords: economic policy; unemployment; econometrics; disequilibrium; microfoundations of macroeconomics (search for similar items in EconPapers)
Date: 2025
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Published in European Journal of the History of Economic Thought, 2025, 32 (3)

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05446831

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