Chagny, Odile; Reynès, Frédéric; Sterdyniak, Henri - Centre de recherche en Économie (OFCE), Sciences … - 2002
This paper examines theoretically and empirically the controversial notion of equilibrium rate of unemployment (ERU) which opposes proponents of the Phillips curve to those of the WS/PS models. Theoretically, this paper shows that the specification of the wage equation has a significant...