Economic policy and private investment since the oil crisis

Artus, Patrick; Muet, Pierre-Alain; Palinkas, Peter; Pauly, Peter

doi:10.1016/0014-2921(81)90046-5

Cited by 9 publications

(4 citation statements)

References 17 publications

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“…By 1979, de Ménil had already launched a French-German research project comparing METRIC and SYSIFO, a quarterly macroeconometric model of FRG, built in Hamburg. 22 The project led to the publication of a book edited by de Ménil and Westphal (1985), including two chapters previously presented during the ISoM (Artus et al, 1981;de Ménil and Westphal, 1982). The METRIC-SYSIFO project aimed at (i) understanding the differences between French and West German economies, through the comparison of the two macroeconometric models, and (ii) performing several policy simulations.…”

Section: Large-scale Macroeconometric Modelsmentioning

confidence: 99%

European Economics and the Early Years of the International Seminar on Macroeconomics

Goutsmedt¹,

Renault²,

Sergi³

2021

Revue d'Économie Politique

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The International Seminar on Macroeconomics (ISoM) is an annual conference, which was co-sponsored during 15 years (1978)(1979)(1980)(1981)(1982)(1983)(1984)(1985)(1986)(1987)(1988)(1989)(1990)(1991)(1992)(1993) by the French EHESS and the NBER. This article uncovers the scientific and institutional dynamics unrolling from this cooperation. We argue that the ISoM contributed greatly to the making of a European network of economists sharing similar professional and intellectual standards: indeed, the Seminar gathered macroeconomists who were leading the development of this European network.We illustrate how the ISoM stood at the crossroad of two types of 'internationalisation' of economics: the integration of European national communities and the process of 'Americanisation' of economics. While existing literature on 'internationalisation' focuses on the national level, our contribution investigates the European level. Moreover, we unveil how two research programmes in macroeconomics (namely the disequilibrium theory and large-scale macroeconometric modelling) played a significant role in this process.

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Section: Large-scale Macroeconometric Modelsmentioning

confidence: 99%

European Economics and the Early Years of the International Seminar on Macroeconomics

Goutsmedt¹,

Renault²,

Sergi³

2021

Revue d'Économie Politique

View full text Add to dashboard Cite

show abstract

“…By 1979 de Ménil had already launched a French-German research project comparing METRIC and SYSIFO, a quarterly macroeconometric model of FRG built in Hamburg. 17 The project led to the publication of a book, edited by de Ménil and Westphal (1985); two chapters were previously presented during the ISoM (Artus et al 1981;de Ménil and Westphal 1982). The METRIC-SYSIFO project aimed at (i) understanding, through the comparison of the two macroeconometric models, the differences between French and West German economies, and (ii) performing several policy analysis exercises based on model simulations.…”

Section: Large-scale Macroeconometric Modelsmentioning

confidence: 99%

European Economics and the Early Years of the 'International Seminar on Macroeconomics'

2019

View full text Add to dashboard Cite

The International Seminar on Macroeconomics (ISoM) is an annual conference, which was co-sponsored, during 15 years (1978-1993) by the French EHESS and the NBER. This article uncovers the scientific and institutional dynamics unrolling from this cooperation. The ISoM, we argue, constituted a decisive step towards the making of a European network of economists, sharing a distinctive style of economics, insofar that the Seminar gathered macroeconomists who were leading the development of this European network. We illustrate how the ISoM stands at the crossroad of two types of 'internationalisation' of economics: on the one hand, the integration of European national communities; on the other hand, the process of 'Americanisation' of economics. While existing literature on 'internationalisation' focuses on the national level, our contribution investigates its European level. Moreover, we unveils the key role played in this process by macroeconomics-and more specifically, large-scale macroeconometric modelling on the one hand, and the disequilibrium theory on the other hand. These two approaches provided a common research agenda and shared scientific standards for the emerging network.

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“…At that point, we have to make several simplifying assumptions in order to stay in the static framework of equation (3). Investment is of course an intertemporal decision, and the most complete model, all future expected contraints influence the current investment level.…”

Section: Theoretical Foundationsmentioning

confidence: 99%

“…Although conventional econometric studies tend to reject the model of notional demand in favor of the model of effective demand including the output constraint ( [12] or [34]), they conclude, nevertheless, with the combined influence of output and profits, whether the latter affects the level ( [II], [23], [27]), or the speed of realization of desired investment ( [3], [8], [12], [16], [26], [30]). These models, which can be justified, for example, by the aggregating of firms faced with different situations, do not, however, make it possible to distinguish the influence of the various constraints at different periods.…”

Section: Introductionmentioning

confidence: 99%

Investment, Output and Labor Constraints, and Financial Constraints: The Estimation of A Model With Several Regimes

Artus

Muet²

1985

International Studies in Economics and Econometrics

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Economic policy and private investment since the oil crisis

Cited by 9 publications

References 17 publications

European Economics and the Early Years of the International Seminar on Macroeconomics

European Economics and the Early Years of the International Seminar on Macroeconomics

European Economics and the Early Years of the 'International Seminar on Macroeconomics'

Investment, Output and Labor Constraints, and Financial Constraints: The Estimation of A Model With Several Regimes

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