This paper reviews the ability of the traditional aggregate demand–aggregate supply framework to explain the unemployment fluctuations of the last three decades. A structural VAR model for the growth rates of labor productivity, inflation and unemployment is estimated on American and French...

This paper reconsiders the welfare benefit of unemployment insurance when individuals might self−insure through private savings but face aggregate fluctuations. We conclude that previous studies have under−estimated by half the average welfare gain from unemployment benefit by ignoring...

L’étude de l’incidence des dispositifs d’assurance chômage sur l’offre de travail s’est limitée jusqu’ici, faute de données, au système de protection sociale au travers de l’allocation chômage. Cependant, au cours des années 90, de plus en plus de ménages ont constitué une...

L'ambition de ce travail est d'évaluer quantitativement la capacité de l'épargne de précaution à couvrir le risque de chômage dans le cadre d'une économie caractérisée par des risques idiosyncratiques sur le marché du travail. Il apparaît que l'épargne de précaution permet de...

We explore the consequences of public employment for labour market performance. Theory suggests that public employment may not only crowd out private employment, but also increase overall unemployment if, by offering attractive working conditions, it draws additional individuals into the labour...

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In this paper we develop a new empirical approach to uncovering the impact of social attitudes on economic development. We first show that trust of second-generation Americans is significantly influenced by the country of origin of their forebears. In the spirit of the epidemiology literature,...