This paper shows that optimal unemployment insurance contracts are age-dependent. Older workers have only a few years left on the labor market prior to retirement. This short horizon implies a more decreasing replacement ratio. However, there is a sufficiently short distance to retirement for...

This paper presents some results of the computable, general-equilibrium, multiregional overlapping-generations model INGENUE. The purpose of this research is to analyse the issues relating to wealth accumulation and alternative pension reforms in the context of global finance. Hence it focuses...

Le PERP, mis en place en 2003, occupe une place centrale dans le dispositif d'épargne retraite par capitalisation en France. Nous étudions son caractère redistributif en calculant les taux de rendement interne pour des situations types qui varient en fonctions de la catégorie sociale, du...

This paper depicts the negative impact of a falling real wage caused by reduced bargaining power of workers on aggregate demand and employment. Contrary to standard New Keynesian models, the presence of consumers not participating in financial markets (rule of thumb consumers) causes an...

The standard two-sector monetary business cycle model suffers from an important deficiency. Since durable good prices are more flexible than non-durable good prices, optimising households build up the stock of durable goods at low cost after a monetary contraction. Consequently, sectoral outputs...

We estimate small open economy models with involuntary unemployment using Australian data from 1993 to 2007, focusing on hiring costs and real wage rigidity. We find a strong preference for models with hiring costs, which account for 0.97% of GDP. The data favour models with real over nominal...

We evaluate the impact of both on-the-job and out-of-employment training on the mobilities on the labour market. Using a French survey that provides work and training participation histories over a five-year period, we estimate a multi-spell multi-state transitions model with unobserved...

This paper investigates the importance of ethnic homophily in the hiring discrimination process, and provides a novel test for statistical discrimination. Our evidence comes from a correspondence test performed in France, in which we use three different kinds of ethnic identification: French...

We analyse how wage setting institutions and job-security provisions interact on unemployment. The assumption that wages are renegotiated by mutual agreement only is introduced in a matching model with endogenous job destruction "à la" Mortensen and Pissarides (1994) in order to get wage...

This paper aims to explain the dynamics of the Spanish labour market, focussing in particular on the high persistence of unemployment and the dynamics around the Beveridge curve. We develop a stochastic dynamic general equilibrium model in which we assume that the labour market may be...