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Investissement et politique monétaire dans le court terme : une présentation du modèle IS-LM
| Content Provider | Semantic Scholar |
|---|---|
| Author | Laroque, Guy |
| Copyright Year | 2009 |
| Abstract | In this article, the IS-LM model is reexamined in light of the developments of macroeconomic theory in the past two decades. The transaction demand for money is described through a Clower constraint, and the demand for physical investment is derived from the maximization of the sum of the discounted profits of the entrepreneurs. The conclusions of the traditional analysis are discussed in relationship with assumptions on expectations formation. Among other results, one obtains the equivalence between bond financing and tax financing of government deficits of Barro (1974), as a consequence of a particular expectation assumption. The link between monetary policy and investment appears to be highly dependent on the shape of the price and wage expectations of the investors. Ce texte presente le modele IS-LM en tirant partie des developpements de la theorie macroeconomique des vingt dernieres annees. La demande de monnaie de transaction est modelisee a la Clower, et la demande d’investissement physique est derivee d’un comportement de maximisation de profit actualise. On discute la validite des conclusions de l’analyse traditionnelle en regard des hypotheses sur les anticipations. On retrouve entre autres la situation, mise en avant par Barro (1974), ou financements du deficit budgetaire par emprunt ou par impot sont equivalents. On montre que la liaison entre politique monetaire et investissement depend etroitement de la forme des anticipations de salaires et de prix des investisseurs. |
| Starting Page | 69 |
| Ending Page | 98 |
| Page Count | 30 |
| File Format | PDF HTM / HTML |
| DOI | 10.7202/602060ar |
| Volume Number | 68 |
| Alternate Webpage(s) | https://www.erudit.org/fr/revues/ae/1992-v68-n1-2-ae2733/602060ar.pdf |
| Alternate Webpage(s) | https://doi.org/10.7202/602060ar |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
