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Does Modern Econometrics replicate the Phillips Curve?
Shadman-Mehta, Fatemeh - Institut de Recherche Économique et Sociale (IRES), … - 1996
This paper reexamines the existence of a long-run relationship between wages and unemployment in the U.K., with data … and the unemployment rate. However, the main impact of deviations from this long-run equilibrium is on the unemployment …
Persistent link: https://www.econbiz.de/10004984987
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A Real Business Cycle Model of the Phillips Curve
Rafael, Muñoz - Institut de Recherche Économique et Sociale (IRES), … - 1998
The aim of this article is to show that RBC models can account for the so-called Phillips curve. We propose an efficiency wage model in which money is introduced via a cash-in-advance constraint. Households choose how much effort to devote by comparing present real and nominal wages with past...
Persistent link: https://www.econbiz.de/10004985023
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Gift exchange and the business cycle: the fair wage strikes back
Collard, Fabrice; de la Croix, David - Institut de Recherche Économique et Sociale (IRES), … - 1996
We extend the benchmark RBC model amending the technology for efficiency wage considerations. The disutility of effort depends on current, alternative and past wages. Past wages are treated as the worker's past wages (personal norm case) or as the past wages of the society (social norm case)....
Persistent link: https://www.econbiz.de/10004985038
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Labor market dynamics when effort depends on wage growth comparisons
de la Croix, David; Palm, Franz; Urbain, Jean-Pierre - Institut de Recherche Économique et Sociale (IRES), … - 1996
We present an efficiency wage model in which workers' effort depends on the level and on the growth rate of their wage relative to an alternative wage. Using data for four countries (US, UK, FR, GY), the implications of the model are examined and are found to be in accordance with the...
Persistent link: https://www.econbiz.de/10004985060
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Inégalités de revenus, marchés du travail et politique de transferts. Comparaison internationale et décomposition par sources de revenus
Fitoussi, Jean-Paul; Van Haeperen, Béatrice - Institut de Recherche Économique et Sociale (IRES), … - 1998
Les évolutions qui ont caractérisé le marché du travail se sont traduites par de substantielles modifications de la composition des revenus des ménages et ont pu affecter l'inégalité de la répartition de ces revenus. Notre objectif est d'analyser l'évolution de la contribution des...
Persistent link: https://www.econbiz.de/10004985079
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Microeconomic Uncertainty and Macroeconomic Indeterminacy
Fagnart, Jean-François; Sneessens, Henri - Institut de Recherche Économique et Sociale (IRES), … - 2001
We construct a stylised intertemporal macroeconomic model to illustrate how the combination of decentralised trading and microeconomic uncertainty can generate coordination problems and indeterminacy of the macroeconomic equilibrium. With a competitive labour market and a fixed labour supply,...
Persistent link: https://www.econbiz.de/10004985129
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Unemployment Benefits and Basic Income. Economic Performance, Income Inequality and Social Welfare
Rillaers, Alexandra - Institut de Recherche Économique et Sociale (IRES), … - 2000
Two social security schemes are compared in the long run, one based on a basic income and on the other on unemployment …
Persistent link: https://www.econbiz.de/10004985136
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Technological Bias and Unemployment: A Macroeconomic Perspective
Sneessens, Henri R. - Institut de Recherche Économique et Sociale (IRES), … - 1998
at least, that growth has asymmetric effects) is little disputed. Evaluating its effect on unemployment still remains a …
Persistent link: https://www.econbiz.de/10004985210
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On Minimum Income, Qualification Structure and Salary Scale
Dehez, Pierre; Fitoussi, Jean-Paul - Institut de Recherche Économique et Sociale (IRES), … - 1996
which unemployment is compensated by transfers. With a disaggregated labor market, the equilibrium distribution of …
Persistent link: https://www.econbiz.de/10004985224
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Involuntary Unemployment. Unravelling the Conceptual Muddles
De Vroey, M. - Institut de Recherche Économique et Sociale (IRES), … - 1994
The aim of this paper is to disentangle four main acceptations of the unvoluntary unemployment concept, to be found in … the literature. The will be dubbed respectively as unvoluntary unemployment à la Keynes, à la Modigliani, à la Azariadis …, that unvoluntary unemployment à la Keynes is unacceptable within the neo-Walrasian research program. Part four examines the …
Persistent link: https://www.econbiz.de/10004985231