The Impact of Growth, Labour Cost and Working Time on Employment: Lessons from the French Experience

Yannick L'Horty () and Christophe Rault

No 03-08, Documents de recherche from Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne

Abstract: 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 three sets of sectors. We obtain a relationship in which employment rises when there is growth and falls when labour cost or working time rises, in both industrial sectors and non-industrial ones. This model then allows the contributions of each of the variables with respect to employment inflections since the mid-eighties to be measured retrospectively.

Keywords: Per capita productivity; hourly productivity; labour demand; employment; working time; co-integration; VAR-ECM model (search for similar items in EconPapers)
JEL-codes: E24 J22 J23 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2003
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Related works:
Journal Article: The Impact of Growth, Labour Cost and Working Time on Employment: Lessons from the French Experience (2005)
Working Paper: The Impact of Growth, Labour Cost and Working Time on Employment: Lessons from the French Experience (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:eve:wpaper:03-08

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