La Nouvelle Macroéconomie Keynésienne a récemment insisté sur les notions de complémentarité stratégique et de défauts de coordination. En particulier, l'hétérogénéité entre «répondants» et «non-répondants » a été perçue comme donnant un poids disproportionné aux «...

The aim of this article is to show that RBC models can account for the so-called Phillips curve. We propose an efficiency wage model in which money is introduced via a cash-in-advance constraint. Households choose how much effort to devote by comparing present real and nominal wages with past...

Past experiences and social forces have been incorporated into tastes in order to analyze various microeconomic issues. We use these extended preferences to model the making of standard-of-living aspirations and study their effect on macroeconomic variables. We concentrate first on consumption...

We analyze to what extent skill heterogeneity in the labor market with different wage formation mechanisms can explain the features of the Spanish labor market. The model assumes two types of workers with differences in skills. Skilled labor sets wages in an efficiency way while unskilled labor...