| Titre | Les déterminants du chômage d'équilibre : estimation d'un modèle WS-PS | |
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| Auteur | Nicolas Sobczak, Yannick L'Horty | |
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Revue | Economie et prévision |
| Numéro | no 127, 1997/1 | |
| Page | 101-116 | |
| Résumé anglais |
The Determinants of Equilibrium Unemployment: Estimating a WS-PS Model by Yannick L'Horty and Nicolas Sobczak
This study proposes an evaluation of equilibrium unemployment in France based on an estimation of a WS-PS model using quarterly macroeconomic data. First of all, the theoretical determinants of equilibrium unemployment are discussed in relation to a wage bargaining model with extremely general specifications. A multivariate estimation of a minimal model is then used to show two cointegration relations, from which the structural forms of the price and wage equations are identified. The minimal model is subsequently used as a basis to explore the role of a number of variables likely to contribute to the formation of equilibrium unemployment. Examples of these variables are the tax and social security contributions wedge, terms of trade, unemployment benefits and the mismatch. Univariate and multivariate estimates made using an enhanced model therefore reveal the determining role of the wage wedge, the slowdown in productivity gains and, to a lesser extent, replacement earnings in the rise in equilibrium unemployment in France. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1997_num_127_1_5839 |
