Photo Christian Bidard

Christian Bidard

Professeur(e) émérite
  • Email
  • Tél. professionnel 0140977356
  • Bureau à Paris Nanterre (Bât. + num.) G611A
  • Research group

      Macroéconomie Internationale, Banque et Econométrie Financière

  • Theme(s)
    • Théorie classique : prix et reproduction
    • Histoire de la pensée économique
    • Macroéconomie et défauts de coordination

2020-17 "The Wage-Maximisation Property"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
For linear single-product models, the competitive long-run technique is wage maximising at a given rate of profit. The property is extended to multiple-product systems that satisfy an additional hypothesis called robustness. In particular, the nonsubstitution property implies that all prices are minimum in terms of wage. The result applies to several types of models, including production with fixed capital. On the robustness hypothesis, the wage-maximisation property can be seen as the counterpart in value terms of the golden rule.
Classification-JEL
B24, C62, D41, D51
Mot(s) clé(s)
Nonsubstitution, wage maximisation, golden rule, fixed capital, Sraffa.
File

2015-4 "An oddity property for cross-dual games"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
The parametric Lemke algorithm is used to show the existence of an odd number of solutions of a generalized bimatrix game in a certain domain. These solutions are classified into two types according to the relative sign of two determinants. The British economist David Ricardo made an implicit use of that algorithm at the beginning of the nineteenth century.
Classification-JEL
01A55, 90-03, 90C33, 91B60
Mot(s) clé(s)
Complementarity problems, Generalized bimatrix game, Oddity, Parametric Lemke algorithm, Ricardo.
File

2014-55 "The Wage Curve in Austrian Models"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
We fully characterise, in terms of their local or global properties, the wage curves associated with Austrian models of production. When these properties are met, the degrees of freedom in the choice of parameters allow us to build an Austrian model which admits a given wage curve and satis…es other requirements.
Classification-JEL
B53, D24, D33.
Mot(s) clé(s)
Austrian model, long run, trade-o¤property, wage curve.
File

2014-54 "The Ricardian rent theory two centuries after"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
We propose to re-read Ricardo's theory of rent and its modern versions. Ricardo's dynamic approach follows the transformations of a long-term equilibrium with demand. Sraffa adopted the same framework while substituting a value criterion for a physical criterion to determine the incoming marginal method, but he did not state the law of succession of methods explicitly. This prevented him to realize that his critique opens the door to all complications of capital the ory, with the consequence that the Ricardian dynamics fail when a divergence appears between profitability and productivity. Contemporary studies have cast doubts on the validity of some of Ricardo's and Sraffa's over-optimistic conclusions, but the abandonment of the dynamic approach does not allow them to explain the ultimate reason of the phenomena they have pointed at. Ricardo's method has been recently rediscovered by mathematicians.
Classification-JEL
B12, B51, C61, D33.
Mot(s) clé(s)
Classical theory, land, rent, Ricardo, Sraffa.
File

2014-10 "Disequilibrium, reproduction and money: a Classical approach"

Carlo Benetti, Christian Bidard, Edith Klimovsky, Antoine Rebeyrol

Show Download working paper (on EconPapers)

Abstract
We consider a bisector reproduction model in which money is introduced as a pure means of exchange issued by a bank at the producers' requests. Each capitalist aims at maximising accumulation in his own sector. Their plans are based on available quantities and expected prices. Effective prices are determined by a market-clearing mechanism. Temporary disequilibria occur in both physical and monetary terms. The settlement of the monetary balances is operated by means of a transfer of capital goods. Final allocations and effective productions are thus determined. The dynamics of the economy are those of a sequence of temporary disequilibria and let appear several possibilities (local or global stability, cycles) depending on the values of the parameters.
Classification-JEL
E11, E30, E32, O41
Mot(s) clé(s)
Classical Reproduction, Monetary prices, Disequilibrium, Growth, Cycle
File

2013-8 "GETTING RID OF RENT?"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
In order to extend the theory of value and the trade-off property to economic systems with lands, Ricardo reduced their study to that of productive systems without lands by considering the marginal agricultural methods. Sraffa generalised the analysis to prices of production and rejected the notion of order of cultivation. The strategy works sometimes for extensive cultivation, fails in most cases of intensive cultivation, and always when the net product of agriculture is increased by making use of corn saving methods in industry.
Classification-JEL
B12, B51, D24, D33
Mot(s) clé(s)
Land, rent, Ricardo, Sraffa, trade-off
File

2012-48 "RICARDO AND LEMKE"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
We study the economic mechanism which sustains the substitution of a marginal method for another when demand increases, in the presence of scarce resources. In those Ricardian dynamics, it is shown that the outgoing method is determined by the quantity side of the problem, the incoming method by the value side. That discrepancy explains both the possible failure of the dynamics and the possible occurrence of multiple equilibria. Conditions for existence, uniqueness and the working of the dynamics are stated. A parallel is drawn with the parametric Lemke algorithm used to solve linear complementarity problems.
Classification-JEL
B12, C61, C65, D33
Mot(s) clé(s)
Dynamics, Lemke, rent, Ricardo, scarce resources
File

2012-43 "The Frail Grounds of the Ricardian Dynamics"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
The Ricardian dynamics study the evolution of distribution when demand increases. The successive marginal methods in agriculture are determined by means of a rule which has never been stated explicitly by Ricardo's commentators. But the rule also allows us to point at two limits of Ricardo's construction, first in his attempt to get rid of rent in the analysis of distribution, second in the working of the dynamics themselves. Similarly, the identification of a productivity and a profitability criterion is at the basis of Sraffa's mistake in his reconstruction of the theory of rent, whereas post-Sraffian formalizations have abandoned Ricardo's dynamic approach.
Classification-JEL
B12, C61, D30
Mot(s) clé(s)
Rent; Ricardian dynamics; Ricardo; Sraffa
File

2012-41 "The Ricardo-Lemke parametric algorithm on oddity and uniqueness"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
The parametric Lemke algorithm finds an odd number of solutions to the linear complementarity problem LCP (q, M), for a matrix M with zero blocks on the diagonal and vector q within a certain domain. A criterion for monotonicity and uniqueness is given. The algorithm applies to the determination of a long-run equilibrium in the presence of scarce resources, and its first description can be traced back to the nineteenth century economist David Ricardo.
Classification-JEL
B12, C61, C63
Mot(s) clé(s)
Oddity; parametric Lemke algorithm; Ricardo; uniqueness.
File

2011-24 "The Ricardian Dynamics Revisited"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
The Ricardian dynamics describe the substitution of a new marginal method for an outgoing marginal method when demand increases. The process of extension or intensi…cation of cultivation allows for spasmodic changes in prices and rents but is smooth on the physical side. We criticize the notion of extension of cultivation and show the existence of non-Ricardian equilibria, when some good is not produced by a marginal method. The working of the dynamics requires that the incoming method satisfies a productivity condition which is expressed in algebraic terms. A parallel is drawn between Ricardo's views on dynamics and the working of a Lemke algorithm for linear complementarity problems.
Classification-JEL
B12, D24, D33
Mot(s) clé(s)
Dynamics, Lemke, Linear Complementarity Problem, Rent, Ricardo
File

2010-23 "Reproduction and temporary disequilibrium: a Classical approach"

Carlo Benetti, Christian Bidard, Edith Klimovsky, Antoine Rebeyrol

Show Download working paper (on EconPapers)

Abstract
We build a bisector reproduction model with classical features in which the capitalists aim at maximizing accumulation of their profits. At variance with gravitation models, it is assumed that they invest their profits in their own industry. Their plans are based on actual productions and expected prices. Effective prices and effective allocations of resources are determined by a market-clearing mechanism. A simple law on the formation of expectations allows us to define the dynamics of disequilibria, which let appear endogenous self-sustained fluctuations, around a long-run path. The long-run rate of growth and the amplitude of the fluctuations depend on the initial conditions.
Classification-JEL
E11, E30, E32, O41
Mot(s) clé(s)
Classical Reproduction, Market prices, Disequilibrium, Growth, Cycle
File

2010-8 "Complementarity Problems and General Equilibrium"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
A general equilibrium technique is used to show the existence of a solution to a nonlinear complementarity problem involving a copositive function.
Classification-JEL
Mot(s) clé(s)
Nonlinear complementarity problem; general equilibrium; copositivity.
File

2008-24 "The Dynamics of Intensive Cultivation"

Christian Bidard

Show Download working paper (on EconPapers)

Abstract
An increase in the demand for agricultural goods leads to the use of more intensive cultivation methods. Though Ricardo sees no difficulties in the intensification process, their existence is revealed by the possible occurrence of multiple equilibria. A general theory of intensive rent is based on a formal parallel with single-product systems without land.
Classification-JEL
B12, D24, D33
Mot(s) clé(s)
intensive cultivation, land, rent, Ricardo
File
load Please wait ...