Diagnosing unemployment: the dual project of the ENSAE's band

Romain Plassard

MPRA Paper from University Library of Munich, Germany

Abstract: Throughout the 1980s and 1990s, there was a continuing effort to specify and estimate general equilibrium models with rationing (GEMR). However, this applied work has never been studied in a historical perspective. My article contributes to fill this gap. The focus is on the research led by French statisticians/econometricians including Patrick Artus, Sanvi Avouyi-Dovi, Christian Gourieroux, Jean-Jacques Laffont, Guy Laroque, and Alain Monfort. I show that there were two different motivations behind their work on GEMR: to inform economic policy and to advance data analytics. I explain the conditions under which each project emerged, account for their development, and discuss their scope. It follows a fresh perspective on the history of the microfoundations of macroeconomics.

Keywords: Disequilibrium macroeconomics; Estimation; Unemployment; Economic Policy; ENSAE. (search for similar items in EconPapers)
JEL-codes: B21 B22 B23 E13 E61 (search for similar items in EconPapers)
Date: 2022-06-27
New Economics Papers: this item is included in nep-his
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