This paper examines the notion of « equilibrium rate of unemployment » (ERU). An « asymmetric » wage-price setting based on a wage Phillips curve and on a price equation in level leads to a clear distinction between medium and long run ERU, as to a kind of reconciliation between WS/PS and...

The future of the Italian society by Henri Mendras and Sylvain Meyet. For a long time, North had the lowest fertility rate of Europe which was compensated by the strong rate of the Mezzogiorno, which now is on the way to join that of North. If this situation goes on, the country population will...

What are the characteristics of the French public services ? The evolution of the real frontier between the public and private sectors and its theoretical rationalization are tracked. During the liberalism period, regulation and public property were not to be mixed. The government influence has...

This article is in keeping with the optimum currency areas theory. Its main goal is to show how the international migrations, which occurred before the First World War, made the adjustment easier in the countries that opted for linking up their currency with gold. Actually, mass migrations...

Using a standard state-space model with a reduced Phillips equation, we propose a model with better dynamics and explicit separation of NAIRU and structural unemployment. This model requires the use of a Kalman filter. Under reasonable assumptions on the innovations to the NAIRU equation, our...