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Incorporating Labour Market Frictions into an Optimising-Based Monetary Policy Model
Moyen, S.; Sahuc, J-G. - Banque de France - 2004
This paper examines the effects of introducing a non Walrasian labour market into the "New Neoclassical Synthesis'' framework. A dynamic stochastic general equilibrium model is formulated, solved, and calibrated in order to evaluate its ability to replicate the main features of the Euro area...
Persistent link: https://www.econbiz.de/10005056540
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The Shimer puzzle(s) in a New Keynesian framework.
Pizzo, A. - Banque de France - 2014
In this paper I shed light on the issues of the (low) volatilities of labor market variables implied by the search and matching model and the (high) values of the correlations between these variables and labor productivity. On the one hand, Shimer (2005) claims that “Not only there is little...
Persistent link: https://www.econbiz.de/10010933106
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Financial Shocks and the Cyclical Behavior of Skilled and Unskilled Unemployment.
Lopez, J.I.; Moppett, V. Olivella - Banque de France - 2014
We study the effect of financial shocks in labor market dynamics. We build a model with two types of labor, two types of capital and both search and financial frictions. We find that financial shocks, modeled as exogenous disturbances to the borrowing constraint of firms, can generate realistic...
Persistent link: https://www.econbiz.de/10010815961
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Heterogeneity, Unemployment Benefits and Voluntary Labor Force Participation.
Devulder, A. - Banque de France - 2014
States at business cycle frequency. That being so,it can also generate large procyclical fluctuations in the vacancy-unemployment … ratio. This results from two plausible explanations, namely heterogeneity in households preferences and unemployment …
Persistent link: https://www.econbiz.de/10010816009
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Technology Shock and Employment: Do We Really Need DSGE Models with a Fall in Hours?
Dupaigne, M.; Fève, P.; Matheron, J. - Banque de France - 2005
The recent empirical literature that uses Structural Vector Autoregressions (SVAR) has shown that productivity shocks identified using long--run restrictions lead to a persistent and significant decline in hours worked. This evidence calls into question standard RBC models in which a positive...
Persistent link: https://www.econbiz.de/10005056535
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Land Collateral and Labor Market Dynamics in France.
Kaas, L.; Pintus, P. A.; Ray, S. - Banque de France - 2014
unemployment that are in line with the data. We show that both the endogenous movements in the firms’ discount factor and the …
Persistent link: https://www.econbiz.de/10011106000
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Rent building, rent sharing - A panel country-industry empirical analysis
Askenazy, P.; Cette, G.; Maarek, P. - Banque de France - 2012
and decrease with employment protection regulation; iii) increase with the interaction of rent size and the unemployment …
Persistent link: https://www.econbiz.de/10010533728
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Measuring the NAIRU: a complementary approach
De la Serve, M-E.; Lemoine, M. - Banque de France - 2011
framework and assuming that shifts of the Phillips curve share a common trend with the unemployment rate. We consider in this …, it appears that the Nairu can substantially differ from the unemployment trend. Second, relaxing the common trend … assumption improves the fit of the inflation equation. Third, this assumption is necessary for getting an important reduction of …
Persistent link: https://www.econbiz.de/10009293540
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Réformes structurelles sur le marché du travail : quels enseignements peut-on tirer des études existantes ?
Fougère, D. - Banque de France - 2006
. Thus, such reforms are not sufficient by themselves to reduce the unemployment rate and to stimulate production and …
Persistent link: https://www.econbiz.de/10004998818
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Trends in "structural" productivity levels in the major industrialized countries.
Bourlès, R.; Cette, G. - Banque de France - 2006
Estimating returns to hours worked and the employment rate provides us with an original interpretation of changes in US productivity and other industrialized countries' catch-up with US productivity levels over recent decades.
Persistent link: https://www.econbiz.de/10005082519