In this paper we investigate theoretically the numerical bias due to the truncation of structurally infinite time forward-looking models, by the means of various terminal conditions. On a general multivariate optimal growth model, we first analytically confirm some well-known heuristic...

Nous retraçons à grands traits l'évolution de la macroéconomie de sa naissance à nos jours, son émergence dans les années 1930, puis la période de règne sans partage de la macroéconomie keynésienne des années 1950 à 1970. L'étape suivante de son évolution est l'offensive menée...

According to Klein, Keynes’s General Theorywas crying out for empirical application. He set himself the task of implementing this extension. Our paper documents the different stages of his endeavor, focusing on his The Keynesian Revolution book, his Journal of Political Economy article on...