This paper examines the causality relationship between immigration, Unemployment and economic growth of the host country. We employ the panel Granger causality testing approach of Kónya (2006) that is based on SUR systems and Wald tests with country specific bootstrap critical values. This...

This paper incorporates a small and time-varying “disaster risk” à la Gourio (2012) in a New Keynesian model. A change in the probability of disaster may affect macroeconomic quantities and asset prices. In particular, a higher risk is sufficient to generate a recession without effective...

The aim of this paper is to extend the Solow model in a way that permits to endogenize unemployment. Starting from a Neoclassical growth model, as the Solow model, we introduce a mechanism that allows us to determine the Keynesian unemployment, i.e. unemployment that is caused by the weakness of...

La longue recession de l'economie mondiale dans les annees 1990 redonne de l'eclat aux conceptions financieres du cycle economique. La mode du cycle reel, qui avait prevalu dans le sillage de la nouvelle economie classique, a du mal a apprehender les evenements qui se sont succede depuis 1989,...