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Some Evolutionary Foundations for Price Level Rigidity

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002

This Paper shows that price rigidity evolves in an economy populated by imperfectly rational agents who experiment with alternative rules of thumb. In the model, firms must set their prices in the face of aggregate shocks. The payoff depends on the level of aggregate demand, as well as on their...

Persistent link: https://www.econbiz.de/10005661497

Economic Integration, Factor Mobility, and Wage Convergence

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1997

equilibrium, thereby generating unemployment in the ‘East’. This slows the migration of human capital towards the East, but … quickens the migration of raw labour towards the West. A greater share of economic activity is eventually located in the … western region. Unions in the West will benefit from this, provided human capital has low migration costs relative to raw …

Persistent link: https://www.econbiz.de/10005661511

The Brain Drain: Some Evidence from European Expatriates in the US

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2004

This Paper uses US Census data from 1990 and 2000 to provide evidence on the labour market characteristics of European-born workers living in the US. It is found that there is a positive wage premium associated with these workers, and that the highly skilled are over-represented compared with...

Persistent link: https://www.econbiz.de/10005667016

The High Unemployment Trap

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1992

A model of the labour market under firing restrictions and endogenous quits is constructed. It is shown that in the spirit of Blanchard and Summers (1988), the model can generate multiple equilibria, with a low-quits/high-unemployment equilibrium coexisting with a high-quits/low-unemployment...

Persistent link: https://www.econbiz.de/10005791589