Équilibre général stochastique et dynamique non-walrasienne du marché du travail

Arnaud Cheron and Francois Langot

Economie & Prévision, 2008, vol. n° 183-184, issue 2, 93-113

Abstract: This article seeks to assess the contribution of a non-Walrasian model of the labor market to an analysis of economic dynamics.We begin by discussing our model?s capacity to reproduce a labor volatility comparable to that ofGDP, a lesser volatility of real wages, and the acyclical behavior of real wages. We show that the real rigidities introduced by the matching process, combined with a particular specification of bargained wages, enable us to make a wholly satisfactory description of these observed labor-market properties. After this empirical validation, we use the model to quantify the impact of a policy to combat unemployment.We examine the introduction of hiring subsidies to firms.We show that a labor tax has a lower social cost than a capital-tax adjustment as a means of financing this measure. Keywords: labor market, DSGE

Keywords: labor market; DSGE (search for similar items in EconPapers)
Date: 2008
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Related works:
Journal Article: Équilibre général stochastique et dynamique non-walrasienne du marché du travail (2008)
Working Paper: Equilibre général stochastique et dynamique non-walrasienne du marché du travail (2008)
Working Paper: Equilibre général stochastique et dynamique non-walrasienne du marché du travail (2008)
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