Pierrick Clerc
Biographic Data
| ID | 3768401 |
|---|---|
| NAME | Pierrick Clerc |
| GIVEN NAMES | Pierrick |
| FAMILY NAME | Clerc |
| SIGNATURE | CLERC P |
| AFFILIATIONS | HEC Liège |
| ORCID | 0000-0002-5854-4276 |
| VERIFIED | Yes |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 0 |
| AUTHOR COUNT | 8 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2013 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 0 |
Michael Woodford’s Interest & Prices after 20 years
The present paper reflects about Michael Woodford’s Interest & Prices, 20 years after its publication. After stressing the three most important achievements of that treatise, it is argued that Woodford pursued a different, and much less recognised, objective: promoting an approach to monetary policy involving an explicit commitment to a “history-dependent” policy rule. Possible reasons why neither prominent authors nor central banks have (thus fa…
John Taylor and the Revival of the Rules-versus-Discretion Debate
peer reviewed
Imperfect coordination in DSGE models
The imperfect coordination of expectations and actions is a central theme running through Keynes’s General Theory. Incorporating this theme into mainstream macroeconomics, however, has proved to be a difficult endeavour. In particular, attempts to accommodate coordination failures within Dynamic Stochastic General Equilibrium (DSGE) models through multiple equilibria and “dynamic” indeterminacy, while promising in the 1990s, were gradually abando…
The Chicago Monetary Tradition
In 1956, Milton Friedman published his famous restatement of the quantity theory of money, which is often regarded as having been the monetarists' first blow against the then-existing Keynesian orthodoxy.In this essay, Friedman claimed that his approach to the quantity theory was an outgrowth of an "oral tradition" at the University of Chicago in the 1930s and 1940s, a tradition that would have differed significantly from other versions of the qu…
Monetary non-neutrality and stabilisation policies 50 years after Lucas’s “expectations” paper
Half a century has passed since Robert Lucas got his paper on expectations and the neutrality of money published in the Journal of Economic Theory. That article is widely considered as pathbreaking, starting a movement that changed the professional standards of doing macroeconomics. It arguably also affected the perception, if not the conduct of monetary policy and other stabilisation policies. This roundtable discussion collects comments from a …
Debates in Macroeconomics from the Great Depression to the Long Recession
editorial reviewed
On Keynesian Economics and the Economics of Keynes after fifty years
Axel Leijonhufvud’s On Keynesian Economics and the Economics of Keynes (1968) definitely belongs to the category of “classic” books. Its message—decentralised economies are prone to large increases in unemployment since communication failures prevent the optimal coordination of private decisions—is by now well understood. In this paper, we argue that even though most commentators correctly identify this message, they overlook two crucial aspects …
La dynamique des taux de chômage, de destruction et de retour à l'emploi
Nous déterminons un étalonnage permettant au modèle d’appariement de reproduire la volatilité du taux de chômage ainsi que celle de ses deux composantes, le taux de retour à l’emploi et le taux de destruction d’emplois. Nous mettons en exergue un mécanisme central de ce modèle : l’introduction de destructions cycliques amplifie la volatilité du taux de retour à l’emploi. Ce mécanisme implique que ce modèle ne nécessite pas d’avoir recours à des r…
No prominent works on this page.
La dynamique des taux de chômage, de destruction et de retour à l'emploi
Nous déterminons un étalonnage permettant au modèle d’appariement de reproduire la volatilité du taux de chômage ainsi que celle de ses deux composantes, le taux de retour à l’emploi et le taux de destruction d’emplois. Nous mettons en exergue un mécanisme central de ce modèle : l’introduction de destructions cycliques amplifie la volatilité du taux de retour à l’emploi. Ce mécanisme implique que ce modèle ne nécessite pas d’avoir recours à des r…
On Keynesian Economics and the Economics of Keynes after fifty years
Axel Leijonhufvud’s On Keynesian Economics and the Economics of Keynes (1968) definitely belongs to the category of “classic” books. Its message—decentralised economies are prone to large increases in unemployment since communication failures prevent the optimal coordination of private decisions—is by now well understood. In this paper, we argue that even though most commentators correctly identify this message, they overlook two crucial aspects …
Monetary non-neutrality and stabilisation policies 50 years after Lucas’s “expectations” paper
Half a century has passed since Robert Lucas got his paper on expectations and the neutrality of money published in the Journal of Economic Theory. That article is widely considered as pathbreaking, starting a movement that changed the professional standards of doing macroeconomics. It arguably also affected the perception, if not the conduct of monetary policy and other stabilisation policies. This roundtable discussion collects comments from a …
Debates in Macroeconomics from the Great Depression to the Long Recession
editorial reviewed
Imperfect coordination in DSGE models
The imperfect coordination of expectations and actions is a central theme running through Keynes’s General Theory. Incorporating this theme into mainstream macroeconomics, however, has proved to be a difficult endeavour. In particular, attempts to accommodate coordination failures within Dynamic Stochastic General Equilibrium (DSGE) models through multiple equilibria and “dynamic” indeterminacy, while promising in the 1990s, were gradually abando…
The Chicago Monetary Tradition
In 1956, Milton Friedman published his famous restatement of the quantity theory of money, which is often regarded as having been the monetarists' first blow against the then-existing Keynesian orthodoxy.In this essay, Friedman claimed that his approach to the quantity theory was an outgrowth of an "oral tradition" at the University of Chicago in the 1930s and 1940s, a tradition that would have differed significantly from other versions of the qu…
Michael Woodford’s Interest & Prices after 20 years
The present paper reflects about Michael Woodford’s Interest & Prices, 20 years after its publication. After stressing the three most important achievements of that treatise, it is argued that Woodford pursued a different, and much less recognised, objective: promoting an approach to monetary policy involving an explicit commitment to a “history-dependent” policy rule. Possible reasons why neither prominent authors nor central banks have (thus fa…
John Taylor and the Revival of the Rules-versus-Discretion Debate
peer reviewed
Economic Theory and Policy (5 works) · Economics (5 works) · Keynesian economics (5 works) · Macroeconomics (5 works) · Monetary policy (4 works) · Political science (4 works) · Economic theories and models (3 works) · Economic Theory and Institutions (2 works) · Global Financial Crisis and Policies (2 works) · Law (2 works)