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Le multiplicateur d'investissement et l'épargne des revenus

Published online by Cambridge University Press:  17 August 2016

Xavier Bradley
Xavier Bradley*
Affiliation:
Université de Bourgogne
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Résumé

Le multiplicateur d'investissement fut conçu dans les années trente pour établir l'existence d'une hausse cumulative des revenus provoquée par les dépenses d'investissement. Cependant cette démarche a mené à une impasse : des caractéristiques contradictoires étaient attribuées aux concepts fondamentaux ; c'est ainsi que l'épargne, pourtant considérée comme un résidu, déterminait en fait la limite de la multiplication. Un réexamen de la nature de l'épargne conduit à préciser la nature du multiplicande et à faire passer le multiplicateur au second plan. On dispose alors d'une interprétation nouvelle des opérations de création et de destruction des revenus, dans le respect de la relation I = S.

Summary

Summary

The investment multiplier was elaborated during the thirties to prove the existence of a cumulative income increase due to investment spending. Unfortunately this procedure could not succeed as it attributed inconsistent characteristics to the basic concepts. for example, saving, although considered a mere residual, was in fact the condition of a finite value to the multiplier. Reexamining the nature of saving leads precisely to a change of emphasis from the multiplier to the multiplicand. the result is a new understanding of the creation and the destruction of incomes within the framework of the I = S relation.

Keywords

011023031011023031
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 60 , Issue 1 , March 1994 , pp. 87 - 105
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1994 

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Footnotes

(*)

Ce texte a bénéficié des remarques et des suggestions de deux référés; néanmoins son contenu reste de la seule responsabilité de l’auteur.

References

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