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Microfoundations: a decisive dividing line between Keynesian and new classical macroeconomics?

VROEY, Michel DE - Institut de Recherche Économique et Sociale (IRES), … - 2010

(the first installment of dynamic stochastic general equilibrium models) is the presence of microfoundations. These are … discuss this view. Lucas and Sargent defined the microfoundations requirement as consisting of two elements, optimizing … and Patinkin. According to them, the microfoundations requirement consists of a single criterion, optimizing planning …

Persistent link: https://www.econbiz.de/10008506317

The incidence and wage effects of overeducation using the worker’s self-assessment of skill utilization

PECORARO, Marco - Institut de Recherche Économique et Sociale (IRES), … - 2012

This paper proposes an improved concept of educational mismatch that combines a statistical measure of over- and undereducation with the worker’s self-assessment of skill utilization. In that way, we account for worker heterogeneity in skills whose omission may generate biased estimates of the...

Persistent link: https://www.econbiz.de/10011075066

The Relationship Between Union Wage Claims and the Constituents of Firm's Rents : A Theoretical Appraisal

Bughin, Jacques - Institut de Recherche Économique et Sociale (IRES), … - 1992

found in some empirical studies between union wages and the constituents of firm’s monopolistic rents. The paper assesses … concludes that a proper empirical appraisal of the relationship between wages and (the determinants of) firm’s rents should …

Persistent link: https://www.econbiz.de/10004984965

Wage Interdependence and Competitiveness

de la Croix, David - Institut de Recherche Économique et Sociale (IRES), … - 1992

We build a multi-sector model with wage bargaining and imperfect competition to analyse the links between wage interdependence and competitiveness. Quantity constraints together with union power, firm market power and wage externalities play a significant role in the determination of...

Persistent link: https://www.econbiz.de/10004984979

Does Labour Market Rationing Entail (Involuntary) Unemployment ?

De Vroey, M. - Institut de Recherche Économique et Sociale (IRES), … - 1994

This article argues in favor of drawing a distinction between the concepts of labour rationing and unemployment, the former referring to the occurrence of excess supply in a given labour market, the latter to job-waiting activity. In a first part, the literature on the possible consequences of...

Persistent link: https://www.econbiz.de/10004985040

Union-Firm Efficient Bagainig and Test of Oligopolistic Conduct

Bughin, Jacques - Institut de Recherche Économique et Sociale (IRES), … - 1992

This paper applies a production function approach to the analysis of imperfections in output and factor markets and develops a test of efficient bargaining for wage and employment determination. Based on a translog function defined at the firm level, estimates for the Belgian chemical industry...

Persistent link: https://www.econbiz.de/10004985046

Short-Run Production Uncertainty and the Theory of the Firm : The Impact of Union-Firm Bargaining

Bughin, Jacques - Institut de Recherche Économique et Sociale (IRES), … - 1991

The paper analyses the consequence of introducing (decentralized) union-firm bargaining in the theory of the firm under …

Persistent link: https://www.econbiz.de/10004985061

Testing Between Alternative Wage-Employment Bargaining Models Using Belgian Aggreggate Data

Vannetelbosch, Vincent J. - Institut de Recherche Économique et Sociale (IRES), … - 1993

In this paper, I discriminate among alternative models of bargaining for wages and employment (right …

Persistent link: https://www.econbiz.de/10004985062

Externalities in Wage Formation and Equilibrium Unemployment

de la Croix, David - Institut de Recherche Économique et Sociale (IRES), … - 1991

We provide a multi-sector general equilibrium model in which externalities among sectors arise trough decentralized wage bargaining. Without externalities, equilibrium unemployment is only a function of firms’ market power and of demand uncertainty. With externalities, unemployment is higher....

Persistent link: https://www.econbiz.de/10004985108

On Dominance in Wage Bargaining with Incomplete Information in an Unionized Cournot Oligopoly

Vannetelbosch, Vincent J. - Institut de Recherche Économique et Sociale (IRES), … - 1995

bargained at the industry-level and one in which the wages are bargained at the firm-level. The bargaining process is described …

Persistent link: https://www.econbiz.de/10004985130