Disequilibrium, reproduction and money: a Classical approach - Archive ouverte HAL
Pré-Publication, Document De Travail Année : 2014

Disequilibrium, reproduction and money: a Classical approach

Carlo Benetti
  • Fonction : Auteur
  • PersonId : 1031864
Christian Bidard
  • Fonction : Auteur
  • PersonId : 1019954
Edith Klimovsky
  • Fonction : Auteur
  • PersonId : 991166
Antoine Rebeyrol
  • Fonction : Auteur
  • PersonId : 1031865

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 maximising accumulation in his own sector. Their plans are based on available quantities and expected prices. Effective prices are determined by a market-clearing 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.
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Dates et versions

hal-04141358 , version 1 (26-06-2023)

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  • HAL Id : hal-04141358 , version 1

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Carlo Benetti, Christian Bidard, Edith Klimovsky, Antoine Rebeyrol. Disequilibrium, reproduction and money: a Classical approach. 2014. ⟨hal-04141358⟩
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