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National Debt Sustainability and the Dynamics in the Economy of Diamond

de la Croix, David; Michel, Philippe - Institut de Recherche Économique et Sociale (IRES), … - 1999

We analyze the effect of a constant debt policy on capital accumulation and provide an in-depth treatment of the … dynamics in the economy of Diamond. We derive the conditions for avoiding a debt crisis in both the short-run and the long …-run and provide geometrical tools to analyze the issue of sustainability. There is always a level of debt ensuring that any …

Persistent link: https://www.econbiz.de/10004985187

How should retirement policy adjust to the baby bust ?

de la Croix, David; Mahieu, Géraldine; Rillaers, Alexandra - Institut de Recherche Économique et Sociale (IRES), … - 2000

, increasing social security contributions, postponing retirement, and reducing public debt in advance. To assess the respective … public debt are more robust. …

Persistent link: https://www.econbiz.de/10004985297

Where Do We Go from Here

FOLEY, Duncan K. - Institut de Recherche Économique et Sociale (IRES), … - 1995

Duménil and Levy's Economics of the Profit Rate makes major contributions to our theoretical and empirical understanding of advanced capitalist economies. Questions and problems for further research raised by their work concern their definition of stability, the relation of finance to...

Persistent link: https://www.econbiz.de/10008512145

Soutenabilité forte, rente et partage de la valeur ajoutée

FAGNART, Jean-François; GERMAIN, Marc; MAGNUS, Alphonse - Institut de Recherche Économique et Sociale (IRES), … - 2013

Dans un modèle de croissance endogène reposant sur le concept de soutenabilité forte et intégrant une ressource de matière (naturellement recyclable) dont la productivité marginale est bornée, cet article reconsidère la "conjecture de Ricardo", à savoir l'éventualité d'une hausse...

Persistent link: https://www.econbiz.de/10011075064

Learning to manage external constraints : Belgian monetary policy during the Bretton Woods era (1944-1971)

Philippe, LEDENT; Isabelle, CASSIERS - Institut de Recherche Économique et Sociale (IRES), … - 2006

This paper analyses the Belgian monetary and exchange rate policies at the time of Bretton Woods. It sheds light on the groping adjustment process by which internal economic policies are hit by or adapt to the external constraints. In 1944, an ambitious monetary reform laid down the economic...

Persistent link: https://www.econbiz.de/10004984689

Involuntary Unemployment : the Elusive Quest for a Theory

Michel, DE VROEY - Institut de Recherche Économique et Sociale (IRES), … - 2005

This paper addresses the issue of why Keynesian economists have had such a hard time in giving the concept of involuntary unemployment a place in economic theory. Is the gradual demise of this concept a manifestation of some inner defect in economic theory or is it due to some intrinsic weakness...

Persistent link: https://www.econbiz.de/10004984777

Search Frictions on Product and Labor markets : Money in the Matching Function

Etienne, LEHMANN; Bruno, VAN DER LINDEN - Institut de Recherche Économique et Sociale (IRES), … - 2007

This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in selling their production and this affects their decisions to create jobs. Due to search-frictins on the product market, equilibrium unemployment is a U-shaped function of the...

Persistent link: https://www.econbiz.de/10004984870

Kinky perceived demand curves and Keynes-Negishi equilibria

Jacques H., DREZE; Jean-Jacques, HERINGS - Institut de Recherche Économique et Sociale (IRES), … - 2007

The label “Keynes-Negishi equiibria” is attached here to equilibria in a monetary economy with imperfectly competitive product and labor markets where business firms and labor unions hold demand perceptions with kinks - as posited in Negishi’s 1979 book Microeconomic Foundations of...

Persistent link: https://www.econbiz.de/10004984905

Have the early coordination failures models achieved Keynes’s programme ?

Michel, DE VROEY - Institut de Recherche Économique et Sociale (IRES), … - 2004

The aim of this paper is to assess how three seminal coordination failure models (Diamond ((1982)1991), Howitt (1985) and Roberts (1987) have fared against ‘Keynes’s programme’. The first part of the paper characterises Keyne’s programme as consisting of the following four objectives :...

Persistent link: https://www.econbiz.de/10004985032

Lucas on Involuntary Unemployment

Michel, De Vroey - Institut de Recherche Économique et Sociale (IRES), … - 2002

The aim of this paper is to examine critically Lucas’ arguments against Keynes’s General Theory and in particular against Keynes’s concept of involuntary unemployment. It comprises two main parts. In the first, I question Lucas’s claim that Keynes betrayed the equilibrium discipline by...

Persistent link: https://www.econbiz.de/10004985226