Edmond Malinvaud

Edmond Malinvaud (25 April 1923 – 7 March 2015) was a

Edmond Malinvaud
French economist. He was the first president of the Pontifical
Academy of Social Sciences.[1]

Trained at the École Polytechnique and at the École Nationale de

la Statistique et de l'Administration Économique (ENSAE) in
Paris, Malinvaud was a student of Maurice Allais. In 1950,
Malinvaud left Allais to join the Cowles Commission in the United
States. At Cowles, Malinvaud produced work in many directions.
His famous article, "Capital Accumulation and the Efficient
Allocation of Resources" (1953), provided an intertemporal theory Edmond Malinvaud (right), next to
of capital for general equilibrium theory and introduced the Yves Balasko (center) and Gérard
concept of dynamic efficiency. He became director of the ENSAE Debreu, in 1977
(1962–1966), director of the forecast department of French
Treasury (1972–1974), director of the INSEE (1974–1987) and Born 25 April 1923
Professor at the Collège de France (1988–1993). Limoges, France
Died 7 March 2015
He also worked on uncertainty theory, notably the theory of "first
(aged 91)
order certainty equivalence" (1969) and the relationship between
Paris, France
individual risks and social risks (1972, 1973). His microeconomics
textbook (Lectures in microeconomic theory) and his econometrics Nationality French
textbook, Statistical Methods in Econometrics, have since become
Academic career
classics.
Institution Collège de France
Malinvaud's main contribution to macroeconomics is represented Field Macroeconomics
in his slim 1977 book, Theory of Unemployment Reconsidered
which provided a clear and unified reconstruction of dynamic School or Walrasian economics
"disequilibrium" macroeconomics; this theory built on previous tradition
results of Clower, Leijonhufvud, and "Non-Walrasian" theory. Alma mater Ecole Polytechnique
Malinvaud's influence on the subsequent generation of European
Influences Léon Walras
economists has been profound.
Maurice Allais

Major works of Edmond Malinvaud

"Note on von Neumann-Morgenstern's Strong Independence Axiom", 1952, Econometrica.
"Capital Accumulation and the Efficient Allocation of Resources", 1953, Econometrica
"Aggregation Problems in Input-Output Models", 1954, in Barna, editor, Structural
Interdependence of the Economy
"Initiation à la comptabilité nationale", 1957
"Statistical Methods of Econometrics", 1964
"Croissances optimales dans un modèle macroéconomique", 1965, PASSV.
"Les Croissances optimales", 1965, Cahiers du séminaire d'économétrie.
"Decentralized Procedures for Planning", 1967, in Malinvaud and Bacharach, editors,
Activity Analysis of Growth and Planning
 "Décisions en face de l'aléatoire et situation certaine approximativement équivalente", 1969,
Cahiers du séminaire de la Société d'économetrie
"First Order Certainty Equivalence", 1969, Econometrica
"Procédures pour la détermination d'un programme de consommation collective", 1971,
European ER.
"A Planning Approach to the Public Goods Problem", 1971, Swedish JE.
"Lectures on Microeconomic Theory", 1972.
"The Allocation of Individual Risks in Large Markets", 1972, JET
"Prices for Individual Consumption, Quantity Indicators for Collective Consumption", 1972,
RES
"La croissance française", with J.-J. Carré and P. Dubois, 1972.
"Market for an Exchange Economy with Individual Risks", 1973, Econometrica
"The Allocation of Individual Risks in Large Markets", 1974, in Dreze, editor, Allocation
Under Uncertainty.
Malinvaud, Edmond (1977). The Theory of Unemployment Reconsidered (https://archive.or
g/details/theoryofunemploy0000mali). Yrjö Jahnsson lectures. Oxford, England: Blackwell.
ISBN 0-631-17350-1. LCCN 77367079 (https://lccn.loc.gov/77367079). OCLC 3362102 (http
s://www.worldcat.org/oclc/3362102).
"Une Nouvelle formulation générale pour l'étude de certains fondements microéconomiques
de la macroéconomie", with Y.Younes, 1977, Cahiers du séminaire d'économétrie.
"Some New Concepts for the Microeconomic Foundations of Macroeconomics" with
Y.Younes, 1977, in Harcourt, editor, Microeconomic Foundations of Macroeconomics.
"Macroeconomic Rationing of Employment", 1980, in Malinvaud and Fitoussi, editors,
Unemployment in Western Countries.
"Profitability and Unemployment", 1980.
"Théorie macroéconomique", 2 volumes, 1981–2.
"Essais sur la théorie du chômage", 1983
"Mass Unemployment", 1984
"Reflecting on the Theory of Capital and Growth", 1986, Oxford EP
"The Challenge of Macroeconomic Understanding", 1987, BNLQR.
"Voies de la recherche macroéconomique", 1991
"Équilibre général dans les économies de marché", 1993.

Resources on E. Malinvaud
HET Pages: Malinvaud (https://web.archive.org/web/20110430143828/http://www.newschoo
l.edu/nssr/het/profiles/malinvaud.htm), Individual and Social Risks, Neo-Walrasian Capital
Theory, Disequilibrium Macroeconomics

References
1. "L'économiste Edmond Malinvaud est décédé" (http://www.lemonde.fr/economie/article/201
5/03/10/l-economiste-edmond-malinvaud-est-decede_4590569_3234.html) (in French). La
Vie-Le Monde. Le Monde. 10 March 2015. Retrieved 10 March 2015.

External links
Malinvaud's page at the Pontifical Academy of Social Sciences (https://web.archive.org/web/
 20140103004525/http://www.pass.va/content/scienzesociali/en/academicians/honorary/mali
nvaud.html)
Edmond Malinvaud (https://mathgenealogy.org/id.php?id=97834) at the Mathematics
Genealogy Project

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