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Equilibre, coordination et cycle

Abstract : Equilibrium, co-ordination and cycles Theories of business cycles, as they emerge at the beginning of the fifties, essentially focus on co-ordination issues and more precisely on the effects of out-of-equilibrium investment behaviours. New theories, that has been developed from the beginning of the seventies onwards, are based on the so-called equilibrium method and focus on the properties of the utility function, the production function or the ex ante structure of information. They constitute a real challenge for the "old" theories, but they do not make them obsolete insofar as they miss the crucial point which is to explain the nature of a 'multi-phase (or multi-regime) dynamics'.
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Jean-Luc Gaffard. Equilibre, coordination et cycle. Revue Economique, Presses de Sciences Po, 2000, 51 (5), pp.1233 - 1247. ⟨10.2307/3503089⟩. ⟨hal-03582921⟩

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