Contrats salariaux, rétention de main-d’œuvre et cycle économique

Wage Contracts, Labor Retention and Economic Cycle

Afifa Khazri

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, we study the dynamic propagation of the output and the existence of a significant n nominal component in the Solow residual using a DGE model. Nominal wage rigidity and labor retention are introduced as internal propagation mechanisms. The economy is disrupted by technological, fiscal and monetary shocks. The variance of Solow's residual is fully explained by the technological shock. With the introduction of wage contracts, and following a monetary shock, the contribution of the technology shock to the variance of the Solow residual decreases to 13%, while that of the monetary shock is 80%.

Keywords: DGE model; Solow residual; Business Cycle; Monetary and Technologie Shocks; Labor Retention (search for similar items in EconPapers)
JEL-codes: E3 E32 E37 (search for similar items in EconPapers)
Date: 1999-12
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:86755

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