| Titre | Vers une modélisation macro-économique rationnelle ? | |
|---|---|---|
| Auteur | Pierre Malgrange | |
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Revue | Economie et prévision |
| Numéro | no 125, 1996/4 | |
| Rubrique / Thématique | Modélisations macro-économiques d'équilibre |
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| Page | 61-72 | |
| Résumé anglais |
Towards Rational Macroeconomic Modeling? Pierre Malgrange
The purpose of this paper is to explain and evaluate the strengths and weaknesses of the quarterly PLM model of the French economy, which is based on a pattern of intertemporal optimisation and rational expectations. We first of all present a very simple specification, which is similar to the canonical model of optimal growth and integrates government spending. This structure is then enhanced step by step, first by the opening up of the economy and the factoring in of nominal wage rigidity. Then we introduce monopolistic competition and lastly various viscosities resulting in the persistence of a certain number of mechanisms. Characterisation is attained by making a "responses to impetus" analysis, i.e. by calculating the multipliers associated with the two generic supply and demand shocks. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1996_num_125_4_5808 |
