Individual Behaviors and Collective Welfare: Ramsey's " microfoundations " of " macro-equilibrium " - HAL-SHS - Sciences de l'Homme et de la Société Accéder directement au contenu
Communication Dans Un Congrès Année : 2005

Individual Behaviors and Collective Welfare: Ramsey's " microfoundations " of " macro-equilibrium "

Résumé

More than the single determination of a mathematical optimal saving’s rule, the issue at stake in Ramsey'1928 EJ paper was to understand the consequences of individual savings behaviors on collective welfare. The challenge was therefore, and more profoundly, to state a theoretical representation allowing connecting a micro- and a macro level. In contrast with some retrospective interpretations, Ramsey exactly avoided any representative agent logic, in the double sense we give today to this concept in macroeconomics: a way to pass over the individual idiosyncrasy in constructing a fictional economic agent whose choices represent those of an underlying decentralized economy or a way to use an agent that reflects the aggregation of individual behaviors. Ramsey’s challenge was rather to state results concerning macroeconomic equilibrium by bypassing the partial equilibrium framework he inherited from Cambridge. The challenge leads him to scrutiny anf formalize different kinds of economic agents: nation, individual, family.
Fichier principal
Vignette du fichier
GaspardRamsey's Macro-equilibrium.pdf (1.06 Mo) Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)
Loading...

Dates et versions

halshs-01162036 , version 1 (09-06-2015)

Identifiants

  • HAL Id : halshs-01162036 , version 1

Citer

Marion Gaspard. Individual Behaviors and Collective Welfare: Ramsey's " microfoundations " of " macro-equilibrium ". Conference on the History of Macroeconomics, R. Backhouse, P. Bridel, M. De Vroey, Jan 2005, Louvain la Neuve, Belgium. ⟨halshs-01162036⟩
161 Consultations
382 Téléchargements

Partager

Gmail Facebook X LinkedIn More