The Phillips curve is fifty years old. Since Phillips (1958)?s original contribution this econometric relationship has undergone many criticisms and evolutions. The Phillips curve yet remains a fundamental tool for inflation forecasting and monetary policy analysis. This paper reviews the...

The specific rule governing the increases in the French minimum wage (SMIC) can lead to a change in the minimum wage which is larger than the change of the workers hourly base wage (SHBO), as did happen in 1985, 1987 and 2008. In this note we show that the probability of such an event depends on...

[eng] Mimosa, a macroeconomic model of the world economy, jointly built by the CEPII and the OFCE, is now reestimated. This article presents its main features and describes some monetary and fiscal multipliers. The economies of the six bigger industrialised countries are described in great...

[eng] This article reviews macroeconomic developments in Italy and the United Kingdom after the 1992 EMS crisis. We show that these experiences are not competitive devaluations ; they are parts of successful policy mix strategies. We exhibit the contributions of various shocks (fiscal policies,...

[fre] Les mesures de réduction du coût du travail, et notamment celles ciblées sur les bas salaires, ont pris depuis le début des années quatre-vingt-dix une place importante dans les politiques économiques en Europe. Cet article rappelle les expériences les plus notables (au Royaume- Uni...

[eng] In each country, there exists an equilibrium rate of unemployment, determined by wage bargaining features and labour market functioning, below which the rate of inflation accelerates. Two alternative approaches have been developed to define and to evaluate this equilibrium rate. According...