La flexibilité des prix relatifs et la mobilité du travail en Union monétaire. Une comparaison Europe/États-Unis

Jacques Mazier, Joel Oudinet and Sophie Saglio

Revue de l'OFCE, 2002, vol. 83, issue 4, 325-388

Abstract: 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 flexibility only allows an uncompleted and very slow (beyond ten years) re-equilibrium. The labour mobility is then studied with a modelling of a migration-prices-wages-employment model, applied to the American economy divided into four regions. The simulations confirm that the prices relative flexibility allows only limited adjustments facing demand or supply shocks concerning a specific region. The labour mobility plays indeed a re-equilibrium role, but it remains very reduced.

Date: 2002
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=REOF_083_0325 (application/pdf)
http://www.cairn.info/revue-de-l-ofce-2002-4-page-325.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:reofsp:reof_083_0325

Access Statistics for this article

More articles in Revue de l'OFCE from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().