Disequilibrium, Reproduction and Money: a Classical Approach - Université Paris Nanterre
Article Dans Une Revue Metroeconomica Année : 2014

Disequilibrium, Reproduction and Money: a Classical Approach

Carlo Benetti
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Christian Bidard
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  • PersonId : 991165
Edith Klimovsky
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  • PersonId : 991166
Antoine Rebeyrol
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Résumé

We consider a bisector reproduction model in which money is introduced as a pure means of exchange issued by a bank at the producers' requests. Each capitalist aims at maximizing accumulation in his own sector. Their plans are based on available quantities and expected prices. Effective prices are determined by a market mechanism. Temporary disequilibria occur in both physical and monetary terms. The settlement of the monetary balances is operated by means of a transfer of capital goods. Final allocations and effective productions are thus determined. The dynamics of the economy are those of a sequence of temporary disequilibria and let appear several possibilities (local or global stability, cycles) depending on the values of the parameters.

Dates et versions

hal-01385927 , version 1 (22-10-2016)

Identifiants

Citer

Carlo Benetti, Christian Bidard, Edith Klimovsky, Antoine Rebeyrol. Disequilibrium, Reproduction and Money: a Classical Approach. Metroeconomica, 2014, 65 (3), pp.524 - 540. ⟨10.1111/meca.12051⟩. ⟨hal-01385927⟩
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