We re-examine the effects of population aging and pension reforms in an OLG model with labor market frictions. The most important feature brought about by labor market frictions is the connection between the interest rate and the unemployment rate. Exogenous shocks (such as aging) leading to...

We study the long-term effects of a policy that consists in converting long-term unemployment benefits into employment subsidies. Long-term unemployed are supposed to have a lower productivity, and so, are discriminated against. Consequently, they have a lower exit rate from unemployment and...

We study the effects of attribution criteria of unemployment benefits in an equilibrium model of unemployment where search intensities and wages are endogenous. Taking full account of an eligibility condition requiring a given work duration in order to benefit from unemployment insurance allow...

In this study, we ask whether the presence of precautionary savings substantially reduces the optimal replacement rate in an European economy type characterized by high unemployment benefits and moral hazard. We build a simple job search model calibrated on French data and, in line with previous...

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...

Incorporating on-the-job search (OTJS) into a real business cycle model has been shown to increase the cyclical volatility of unemployment. Using a particularly simple model of OTJS, we show that the increased search of employed workers during expansions induces firms to open more vacancies, but...