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Until the current economic crisis, the recovery capacity of the American and French labour markets had often been compared. The United States had been considered more "resilient", namely more affected by cyclical shocks in the short term but more quickly coming back to their initial path in the...
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We incorporate on-the-job search (OTJS) into a real business cycle model in order to study whether OTJS increases the cyclical volatility of unemployment and vacancies. The increased search of employed workers during expansions has two effects on the unemployed: it induces firms to openmore...
Persistent link: https://www.econbiz.de/10009324230
inflation persistence. The closer to zero is this parameter, (i ) the more firms adjust on the intensive margin, reducing … power in the hours negotiation, we produce realistic labor market statistics together with inflation persistence. …
Persistent link: https://www.econbiz.de/10009276972
L'absence de persistance dans la réponse de l'activité à un choc d'offre de monnaie constitue une propriété contrefactuelle récurrente des modèles d'équilibre général intertemporels stochastiques. On est alors tenté de combiner des imperfection fiancières et des rigidités de prix...
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unemployment rate has increased and economic activity has been sluggish. Changes in the implicit inflation target, viewed as low … frequency movements of inflation, might possibly explain these developments. To highlight this issue, the present study … estimates the dynamics of the implicit inflation target in the euro zone over the period 1970Q1-2004Q4. Based on a small …
Persistent link: https://www.econbiz.de/10008477171
La mondialisation a contribué au ralentissement de l’inflation via une intensification de la concurrence. Mais la …
Persistent link: https://www.econbiz.de/10009220181
Le 5ème symposium international de la Banque de France a porté sur les effets de la globalisation sur l’inflation et …
Persistent link: https://www.econbiz.de/10009225692