Mazier, Jacques; Oudinet, Joël; Saglio, Sophie - In: Revue de l'OFCE 83 (2002) 4, pp. 325-388
Adjustment mechanisms through the labour market are studied following two approaches. First, relative prices flexibility is analysed with a macro-economic model estimated for 14 European countries. Model simulations are used to study the consequences of asymmetric shocks; wages and employment...
