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J.-P. Bénassy, “The Macroeconomics of Imperfect Competition and Nonclearing Markets,” The MIT Press, Cambridge, 2002.

has been cited by the following article:

• TITLE: Rentiers and Workers-Capitalists in a Non-Classical Model

  AUTHORS: Romar Correa

  KEYWORDS: Financial Wealth; Competition; Public Works

  JOURNAL NAME: Journal of Mathematical Finance, Vol.3 No.2A, April 29, 2013

  ABSTRACT: We separate the “rentier” portion of the budget constraint of the representative agent from the “income-plus-distributed profits” segment. The former’s wealth consists exclusively of returns on government bonds, the latter’s wealth is wage income from working for firms plus the distributed profits of the latter. The non-neoclassical element is the non-imposition of the market-clearing assumption. The Barro-Ricardo theorem only applies to rentiers. The level of activity is shown to depend on the level of employment along with a set of parameters that capture the imperfect competition of the model.