| Titre | Salaire et emploi dans la théorie des cycles réels | |
|---|---|---|
| Auteur | Jean-Olivier Hairault | |
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Revue | Cahiers d'économie politique |
| Numéro | no 34, printemps 1999 Qu'a-t-on appris sur la relation salaire-emploi depuis Keynes? | |
| Page | 195-219 | |
| Résumé anglais |
Real Business Cycle models try to explain the labor market dynamics in a walrasian framework. The volatility of employment is explained by an intertemporal substitution of leisure in the cycle. However, these models suffer from several imperfections, mainly the too high level of the wage-employment correlation and the too weak volatility of employment relatively to wage. Extensions in a walrasian framework, exploring the labor supply behavior or including other sources of impulsions, do not really succeed in improving the ability of this kind of models to replicate the observed fluctuations. Only the introduction of real and nominal rigidities allows to give a better explanation of the labor market dynamics, even if the intertemporal choice framework is always in the lines of the RBC theory methodology. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/cep_0154-8344_1999_num_34_1_1256 |
