Participation, unemployment and wage bargaining in a real business cycle model

Francois Langot and Muriel Pucci

No 1996034, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: The objective of this article is to evaluate quantitative implications of the hypothesis of matching, with endogenous participation, in the framework of a real cycle model. The choice of participation results from a trade off between domestic production and search for a job. Thus, fluctuations of the unemployment summarise the flows in and out of the labour force. Moreover, in this model, unemployment fluctuations are not Pareto optimal as in Andolfatto [1966] and Merz [1995]. Results of the simulations show how it is possible to explain some stylised facts of the American labour market when flows on this market are so clarified.

JEL-codes: D58 E32 J41 (search for similar items in EconPapers)
Pages: 29
Date: 1996-09-01
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Citations: View citations in EconPapers (2)

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