It is often argued that the tax on continued work should be removed by implementing actuarially fair schemes. However, these schemes cannot help finance the expected Social Security deficit. This paper proposes to give individuals on a fraction of the marginal actuarially fair incentives in case...

Cette étude a pour objectif d'évaluer l'incidence du salaire minimum et des revenus de substitution, allocation-chômage et revenu minimum d'insertion, sur les inégalités de salaire, sur le chômage et plus généralement sur l'optimalité de l'équilibre du marché du travail. Nous...

Transition to floating exchange rate regimes has led to sharp increases in nominal and real exchange rate volatilities with no corresponding changes in the distribution of fundamental macroeconomic variables. In the spirit of Dornbusch [1976], we assess whether nominal exchange rate overshooting...

The international macroeconomic literature attributes the nominal and real exchange rate volatility to two mechanisms. The first one, underlined by Betts and Devereux [1996], lays stress on the deviation from the law of one price due to Pricing-To-Market (PTM) behavior whereas the second...

Recent studies have highlighted the existence of asymmetries in employment dynamics. This paper contributes to the analysis of this dynamics through the explicit modelling of its two components -job creations and job destructions. We propose a simple matching model extended for endogenous...

This paper studies the cyclical labor market properties of a model wich aims to account for the Phillips and Beveridge curves. Monopolistic competition and sticky prices on the goods market are introduced in a labor market search model disturbed by both technological and money supply shocks. We...

This paper considers a particular modification of preferences in a dynamic general equilibrium model with labor-market search that implies, despite the efficient risk-sharing, unemployed workers are worse off. We show that this specific assumption allows to account for the acyclicity of the real...