There is more resistance to layoffs in continental Europe than in the U.S. At the same time, there is some evidence that employed European workers are more productive than their American counterparts. We reconcile these two facts by proposing that some institutions, such as Employment Protection...

Wage determination under asymmetric information generates ine¢ ciencies due to excess turnover. Severance pay and layo¤ taxes can improve e¢ ciency. We show that inefficient separations can even be fully removed with …xed separation taxes in the case where therelevant private information is...

Although the single employment contract is not popular among both representatives of workers and company leaders, the proposal for a single labor contract, created with the goal of reducing dualism, has paradoxically remained at the forefront of debates on the need for reform of the labor...

Dans son ouvrage, Le capital au XXIe siècle, Thomas Piketty souligne les risques d’une explosion des inégalités de patrimoine, car le capital augmenterait plus vite que le revenu dans plusieurs pays, dont la France. Nous reviendrions ainsi au niveau des inégalités du début du XXe...

Il est vain de prétendre à l’exhaustivité en matière de lutte contre les discriminations. Les actions à mener sont multiples et doivent être combinées pour produire leurs effets. Ici, notre contribution consiste surtout dans le classement des actions à conduire en fonction du type de...

Employment protection (EPL) has a well known negative impact on labor flows as well as an ambiguous but often negative effect on employment. In contrast, its impact on capital accumulation and capital-labor ratio is less well understood. The available empirical evidence suggests a non-monotonic...

This paper shows that goods-market frictions drastically change the dynamics of the labor market, bridging the gap with the data both in terms of persistence and volatility. In a DSGE model with three imperfect markets - goods, labor and credit - we find that credit- and goods-market...

The renewal of interest in macroeconomic theories of search frictions in the goods market requires a deeper understanding of the cyclical properties of the intensive margins in this market. We review the theoretical mechanisms that promote either procyclical or countercyclical movements in time...

In his book, Capital in the 21st Century,Thomas Piketty highlights the risk of an explosion of wealth inequality because capital is accumulating faster than income in several countries including the US and European countries such as France. Our work challenges the conclusions of the author in...

A model is developed that allows for interaction between the labor market and the housing market. A job location has an associated commuting time that may affect the job acceptance decision. Obstacles to mobility, such as regulations in the housing market will affect the reservation strategy of...