This paper examines the set of interdependences between the formation of wages, prices and the minimum wage (SMIC) through a vectorial error correction model estimated on French quarterly macroeconomic data covering the 1970-1/1999-4 period. Two periods are distinguished: the period of inflation...

The aim of this paper is to apply recent advances in the econometrics of non-stationary dynamic panel methods to examine the main long-run determinants of real exchange rate. We consider here a sample of 45 developing countries, divided into three groups according to geographical criteria :...

  In order to account for the evolution of employment at the macro-economic level, we have developed a model wherein employment is explained by added value, working time and real labour cost. Estimations using quarterly French macro-economic data are carried out in a multivariate framework for...

Unemployment in France rose steadily from the early-seventies to the mid-eighties. Since the mid-eighties it has continued to experience fluctuations around a very high average level. Equilibrium unemployment theories are a useful framework within which to account for these developments. A...

This paper can be seen as an illustration of the cliometric approach and its contribution to the knowledge of French international capital movements before WW1. Using a formal theoretical framework and advanced eco¬nometric technics improves our understanding of the influences of French capital...

Existing exogeneity conditions of literature are only sufficient and imply 'overly strong' constraints on long-run parameters. This paper presents some new results on exogeneity in vector error correction models. A key concept of the analysis is the 'purely exogenous long-run path', i.e. a...

We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald tests with country specific bootstrap critical values. Our...