The non-existence of an inflation-output trade-off under the rational expectations hypothesis as the cause of the steady state situation. Overtaking attempt. - CNRS - Centre national de la recherche scientifique Accéder directement au contenu
Article Dans Une Revue International Journal of Economic Performance - المجلة الدولية للأداء الاقتصادي Année : 2022

The non-existence of an inflation-output trade-off under the rational expectations hypothesis as the cause of the steady state situation. Overtaking attempt.

Résumé

This article tries to prove the existence of an inflation-output (unemployment) trade-off, at least in the long-run, under a context of the rational expectations hypothesis REH, which makes it possible to overcome the Lucasian steady state situation. This existence of trade-off is due to the importance of saving and the accumulation of capital over time, as well as to unexpected economic policies by the agents, which is essential for economic growth. To achieve this objective, we will expose the unrealistic aspect of REH which avoids any inflation-output (unemployment) trade-off in the short-run and the long-run, and consequently it leads the economy to an infinite steady state situation. Our work undertakes a personal philosophical and mathematical approach, which finds its origins in the pioneering works of economic growth theory, namely those of Harrod, Domar and Solow. We have tried to propose a solution for overcoming the steady state à la Lucas.
Fichier principal
Vignette du fichier
The non-existence of an inflation-output trade-off under the rational expectations hypothesis as the cause of the steady state situation.pdf (1.15 Mo) Télécharger le fichier
Origine : Fichiers éditeurs autorisés sur une archive ouverte

Dates et versions

hal-03905255 , version 1 (21-12-2022)

Licence

Paternité

Identifiants

  • HAL Id : hal-03905255 , version 1

Citer

Abouderaz Sofiane. The non-existence of an inflation-output trade-off under the rational expectations hypothesis as the cause of the steady state situation. Overtaking attempt.. International Journal of Economic Performance - المجلة الدولية للأداء الاقتصادي, 2022, 5 (2). ⟨hal-03905255⟩

Collections

CNRS
297 Consultations
50 Téléchargements

Partager

Gmail Facebook X LinkedIn More