A-t-on besoin d'un modèle d'hystérèse pour rendre compte de la persistance du chômage ?

Explain the unemployment persistence is a problem at theoretical level as well as at empirical level. For Blanchard and Summers [1986], one can explain the European unemployment persistence only in the context of hysteresis model. But the hysteresis assumption seems to be not robust. Then, we construct an intertemporal general equilibrium model where the unemployment is stationary. The estimation and the tests show that this model is sufficient in order to match the French unemployment persistence.