Insiders et persistance : un réexamen dans un modèle de concurrence monopolistique

This article analyzes the effects of different types of transitory shocks on employment, and in particular their persistence. The basic model is of the standard monopolistic competition type, and the wage is determined through collective bargaining between firms and insiders. It appears that the results depend on the type of shock: while the typical finding of agregate employment following a random walk with drift holds when the economy experiences a nominal agregate shock, we show that it behaves in a deterministic way in front of heterogeneous local disturbances. This makes us able to discuss the usual conclusions of the insider-outsider theory.