[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/65850.html
   My bibliography  Save this paper

Out of Equilibrium: Bases, Basics, Policies, and Accounts

Author

Listed:
  • Bianco, Antonio
Abstract
New regulation of EU cohesion policy prescribes ex ante impact eval- uations. These imply a vision of the working of a process of economic change. A theory of change based on the concept of equilibrium (which is a situation in which by definition change is not liable to occur) being paradoxical, the present article aims at presenting bases and basics of Amendola’s out-of-equilibrium approach in a perspective that is instru- mental in the above-referred concrete policy issue. Accordingly, after reviewing the essentials of John Hicks’ concern with the construction of an out-of-equilibrium approach, the key concepts at play in Amendola and Gaffard’s out-of-equilibrium model are summarized and, after considering the resulting perspective on policy making, and touching on EU o�cial framework for institutional accounts, the sequence of ac- counts implicit in the out-of-equilibrium model is eventually derived.

Suggested Citation

  • Bianco, Antonio, 2015. "Out of Equilibrium: Bases, Basics, Policies, and Accounts," MPRA Paper 65850, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:65850
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/65850/3/MPRA_paper_65850.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Antonio Bianco, 2016. "Hicks’s thread (out of the equilibrium labyrinth)," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(4), pages 1229-1245.
    2. Hicks, John, 2017. "A Market Theory of Money," OUP Catalogue, Oxford University Press, number 9780198796237.
    3. Marco Pagano, 2014. "Dealing with Financial Crises: How Much Help from Research?," CSEF Working Papers 361, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    4. Mario Amendola & Jean-Luc Gaffard, 1988. "The innovative choice. An economic analysis of the dynamics of technology," Post-Print halshs-00420361, HAL.
    5. Amendola, Mario & Gaffard, Jean-Luc, 1998. "Out of Equilibrium," OUP Catalogue, Oxford University Press, number 9780198293804.
    6. Lucas, Robert E, Jr, 1975. "An Equilibrium Model of the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1113-1144, December.
    7. Patriarca, Fabrizio, 2012. "Time-to-build, obsolescence and the technological paradox," Structural Change and Economic Dynamics, Elsevier, vol. 23(1), pages 1-10.
    8. Mario Amendola & Jean-Luc Gaffard, 2006. "The market way to riches: behind the myth," Post-Print halshs-00420556, HAL.
    9. Hicks, John, 1990. "The Unification of Macro-economics," Economic Journal, Royal Economic Society, vol. 100(401), pages 528-538, June.
    10. Hicks, John, 1977. "Economic Perspectives: Further Essays on Money and Growth," OUP Catalogue, Oxford University Press, number 9780198284079.
    11. Hicks, J R, 1970. "A Neo-Austrian Growth Theory," Economic Journal, Royal Economic Society, vol. 80(318), pages 257-281, June.
    12. Mario Amendola & Jean-Luc Gaffard, 2006. "The Market Way to Riches," Books, Edward Elgar Publishing, number 4234.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Antonio Bianco, 2015. "Shadow banking, relationship banking, and the economics of depression," PSL Quarterly Review, Economia civile, vol. 68(275), pages 297-326.
    2. Bianco, Antonio, 2015. "Relationship Banking, Shadow Banking, and the Economics of Depression," MPRA Paper 65849, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:spo:wpmain:info:hdl:2441/5gauqkmkok8h1p0f4ag7bsaioj is not listed on IDEAS
    2. Antonio Bianco, 2016. "Hicks’s thread (out of the equilibrium labyrinth)," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(4), pages 1229-1245.
    3. repec:hal:spmain:info:hdl:2441/5gauqkmkok8h1p0f4ag7bsaioj is not listed on IDEAS
    4. Mario Amendola & Jean-Luc Gaffard & Francesco Saraceno, 2004. "Technological Shocks and the Conduct of Monetary Policy," Revue économique, Presses de Sciences-Po, vol. 55(6), pages 1241-1263.
    5. Messori, Marcello, 2014. "A Schumpeterian analysis of the credit market," Structural Change and Economic Dynamics, Elsevier, vol. 28(C), pages 43-59.
    6. Mario Amendola & Jean‐Luc Gaffard & Francesco Saraceno, 2004. "Wage Flexibility and Unemployment: The Keynesian Perspective Revisited," Scottish Journal of Political Economy, Scottish Economic Society, vol. 51(5), pages 654-674, November.
    7. Amendola, Mario & Gaffard, Jean-Luc, 2014. "Time to build and out-of-equilibrium growth process," Structural Change and Economic Dynamics, Elsevier, vol. 29(C), pages 19-27.
    8. Jean-Luc Gaffard & Mauro Napoletano, 2018. "Market disequilibrium, monetary policy, and financial markets: insights from new tools," LEM Papers Series 2018/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    9. Jean-Luc Gaffard, 2018. "Towards a Non-Walrasian Macroeconomics," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 235-256.
    10. Jean-Luc Gaffard & Mauro Napoletano, 2018. "Hétérogénéité des agents, interconnexions financières et politique monétaire : une approche non conventionnelle," Revue française d'économie, Presses de Sciences-Po, vol. 0(3), pages 201-231.
    11. repec:hal:spmain:info:hdl:2441/1cgtnskg398lbrjva1dhgfkgv8 is not listed on IDEAS
    12. repec:spo:wpmain:info:hdl:2441/1cgtnskg398lbrjva1dhgfkgv8 is not listed on IDEAS
    13. repec:spo:wpmain:info:hdl:2441/3tl6t49e929fla0aa2ukppot8n is not listed on IDEAS
    14. repec:hal:spmain:info:hdl:2441/3tl6t49e929fla0aa2ukppot8n is not listed on IDEAS
    15. Mauro Napoletano & Jean-Luc Gaffard, 2010. "Performances et politiques de croissance. Un éclairage empirique à partir d'une étude de l'effet de la taille des pays et nouvelles réflexions théoriques," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 213-248.
    16. Marletto, Gerardo, 2011. "Structure, agency and change in the car regime. A review of the literature," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 47, pages 71-88.
    17. Mario Amendola & Jean-Luc Gaffard, 2009. "Capitalism Dynamism: Efficiency and Fairness," Documents de Travail de l'OFCE 2009-25, Observatoire Francais des Conjonctures Economiques (OFCE).
    18. Amendola, M. & Froeschle, C. & Gaffard, J. -L. & Lega, E., 2001. "Round-about production, co-ordination failure, technological change, and the wage-employment dilemma," Journal of Economic Behavior & Organization, Elsevier, vol. 46(1), pages 1-22, September.
    19. repec:hal:spmain:info:hdl:2441/7321 is not listed on IDEAS
    20. Amendola Mario & Gaffard Jean-Luc, 2014. "Competition and Increasing Returns," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 257-273, April.
    21. Mario Amendola & Jean-Luc Gaffard, 2009. "Revisiting the ‘machinery effect’: from Ricardo to Hicks and ahead," Documents de Travail de l'OFCE 2009-13, Observatoire Francais des Conjonctures Economiques (OFCE).
    22. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09hc01napj8 is not listed on IDEAS
    23. Mario Amendola & Jean-Luc Gaffard & Fabrizio Patriarca, 2017. "Inequality and growth: the perverse relation between the productive and the non-productive assets of the economy," Journal of Evolutionary Economics, Springer, vol. 27(3), pages 531-554, July.
    24. repec:spo:wpmain:info:hdl:2441/53r60a8s3kup1vc9l564n09r8 is not listed on IDEAS
    25. repec:hal:spmain:info:hdl:2441/6361 is not listed on IDEAS
    26. repec:spo:wpmain:info:hdl:2441/eu4vqp9ompqllr09hc01napj8 is not listed on IDEAS
    27. Amendola, Mario & Froeschle, Claude & Gaffard, Jean-Luc, 1996. "Structure and cycles," Journal of Economic Behavior & Organization, Elsevier, vol. 29(3), pages 409-432, May.
    28. Mario Amendola & Sergio Bruno & Jean-Luc Gaffard, 2010. "Hicks and Richardson on Industrial Change: Analysis and Policy," Chapters, in: Jean-Luc Gaffard & Evens Salies (ed.), Innovation, Economic Growth and the Firm, chapter 2, Edward Elgar Publishing.
    29. Jean-Luc Gaffard, 2021. "La transition écologique : incertitude, irréversibilité et modèle institutionnel," GREDEG Working Papers 2021-04, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, revised Feb 2021.
    30. repec:spo:wpmain:info:hdl:2441/6482 is not listed on IDEAS
    31. repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09hc01napj8 is not listed on IDEAS
    32. repec:hal:spmain:info:hdl:2441/6763 is not listed on IDEAS
    33. Stefano Zambelli & N. Dharmaraj, 2013. ""Carry-on-Activity" and Process Innovation," ASSRU Discussion Papers 1306, ASSRU - Algorithmic Social Science Research Unit.
    34. repec:spo:wpecon:info:hdl:2441/6763 is not listed on IDEAS
    35. Mario Amendola & Jean-Luc Gaffard & Francesco Saraceno, 2012. "Production Process Heterogeneity, Time to Build, and Macroeconomic Performance," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(5), pages 263-294.

    More about this item

    Keywords

    Ex Ante Impact Evaluation; Change; Uncertainty; Sunk Costs; Liquidity Risk; Coordination; Sequence of Accounts.;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:65850. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.