Matthieu Renault

Paris 1 Panthéon-Sorbonne University | UNiVPARIS1

Unlike the U.S., Europe was a hotbed for general-equilibrium models with rationing (GEMR). Our goal is to explain how and why GEMR became a “European specialty” (Portes, 1987: p. 1332). We show how research on GEMR took off and developed in France and Belgium from the mid-1970s, before expanding all around Europe. We also argue that three main fac...

The influence of macroeconomists’ on policymakers through economic expertise is usually taken for granted. Yet, the reverse proposal appears far less elusive and as significant. From the analysis of Malinvaud’s writings, I set forth three significant feedback effects of economic expertise on macroeconomics, which has (i) become oversensitive to the...

Edmond Malinvaud's case is peculiar in the history of macroeconomics as he committed to two different microfoundational programs, namely, the disequilibrium theory (more properly, the non-Walrasian approach) and the practice of large-scale macroeconomic modeling. Such a twofold commitment was far from anecdotal because Malinvaud regarded these prog...

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. We argue that macroeconomists gathered by the ISoM contributed greatly to the making of a Eu...

Unlike standard accounts, recent research in the history of macroeconomics has given increasing attention to the Old Keynesians’ criticisms of the New Classical Economics. In this paper, I address the case of Edmond Malinvaud, who began opposing the New Classical Economics from the early 1980s and did so throughout the following thirty years. This...

Unlike standard accounts, recent research in the history of macroeconomics has given increasing attention to the Old Keynesians’ criticisms of the New Classical Economics. In this paper, I address the case of Edmond Malinvaud, who began opposing the latter from the early 1980s and did so throughout the following thirty years. This study shows that...

In 1976, Robert Lucas explicitly criticized Keynesian macroeconometric models for their inability to correctly predict the effects of alternative economic policies. Today, most contemporary macroeconomists and some historians of economics consider that the Lucas’s critique led forcefully to immediate disqualification of the Keynesian macroeconometr...

In this article we follow, over his long career, the evolution of the reflections of Edmond Malinvaud on economic “science” and its relationship with the “problem” of statistical induction. To do so we largely rely on his own words by quoting his many articles addressing these issues. We consider in turn his views on statistical methods and structu...

Les écrits d’Edmond Malinvaud (1923-2015) ont une généralité telle qu’ils permettent d’apporter des réponses à trois des problématiques de l’histoire de la macroéconomie à la suite de l’effondrement du keynésianisme : La recherche des fondements microéconomiques est-elle directement responsable des transformations de la macroéconomie depuis les ann...