This paper examines theoretically and empirically the controversial notion of equilibrium rate of unemployment (ERU) which opposes proponents of the Phillips curve to those of the WS/PS models. Theoretically, this paper shows that the specification of the wage equation has a significant...

This article proposes a new approach to estimate the effect of the unemployment rate on the labor participation ratio by sex and age. OECD labor participation ratios are estimated within an unobservable component model with the Kalman filter. This allows for treating the trend of the...

By defining the Variable Output Elasticities Cobb-Douglas function, this article shows that a large class of production functions can be approximated by a Cobb-Douglas function with nonconstant output elasticity. Compared to standard flexible functions such as the Translog function, this...

This article studies the theoretical foundations of the two main structural wage equations proposed in the literature, namely the Phillips curve and the WS curve. It reinstates to a certain extent the wage Phillips curve by showing that the Phillips curve is preferable to the WS curve from a...

The economic crisis which started in 2008 led to a strong rise in public debts. The sovereign debt crisis in euro area southern countries breached the unity of the euro area and weakened the single currency concept. The paper shows that this situation is not due to a lack of fiscal discipline in...

This article offers a critical reading of the book: "Towards a revolution of the French Tax System" by Landais, Piketty and Saez, 2011. Their work proposes to make the French tax system simpler, fairer and more progressive. It offers an analytical tool, enabling every citizen to evaluate the tax...

En raison de la crise des dettes publiques, les projets visant à instaurer des règles budgétaires sont revenus au premier plan. Le document analyse leurs justifications et les spécifications proposées, dans un cadre néo-classique, puis dans un cadre keynésien. Il n'y a aucune preuve que,...