Production process heterogeneity, time to build, and macroeconomic performance - Sciences Po Accéder directement au contenu
Article Dans Une Revue Revue de l'OFCE Année : 2012

Production process heterogeneity, time to build, and macroeconomic performance

Résumé

This paper describes the out-of-equilibrium approach to the analysis of economic processes. We argue that such an approach is adapted to study qualitative (or structural) changes, like technical progress or changes in preferences. Truly sequential analyses manage to capture the essential features of qualitative change. In particular, we show how this approach shifts the focus from the issue of optimality to the one of viability of the processes of change. The objective of the paper is, first, to highlight the analytical elements of an out-of-equilibrium approach, so as to serve as a guide for the construction of this type of models; second to show, how this analysis allows to see controversial phenomena, like for example the debate on wage rigidity or the productivity paradox in a new and different light ; third to identify the real causes of the on-going crisis.
Fichier principal
Vignette du fichier
revueofce124-gaffard.pdf (241.51 Ko) Télécharger le fichier
Origine : Accord explicite pour ce dépôt
Loading...

Dates et versions

hal-01053563 , version 1 (31-07-2014)

Licence

Paternité - Pas d'utilisation commerciale - Pas de modification

Identifiants

Citer

Mario Amendola, Jean-Luc Gaffard, Francesco Saraceno. Production process heterogeneity, time to build, and macroeconomic performance. Revue de l'OFCE, 2012, 5 (124), pp.263-294. ⟨10.3917/reof.124.0263⟩. ⟨hal-01053563⟩
204 Consultations
121 Téléchargements

Altmetric

Partager

Gmail Facebook X LinkedIn More