This paper presents a continuous time overlapping-generation (OLG) model which generalizes the Blanchard-Buiter-Weil model and clarifies the relationships between dynastic previous termaltruismnext term, the length of planning horizons, and dynamic inefficiency. Our main innovation relies on the...

Macrodynamic models with finite lifetime and selfish individuals may feature (dynamically) inefficient equilibria, while models with infinite lifetime and altruistic individuals cannot. However, savings motives increase with parental altruism and lifetime expectancy, thereby favoring...

This paper presents a continuous time overlapping-generation (OLG) model which generalizes the Blanchard-Buiter-Weil model and clarifies the relationships between dynastic altruism, the length of planning horizons, and dynamic inefficiency. Our main innovation relies on the introduction of...

Macrodynamic models with finite lifetime and selfish individuals may feature (dynamically) inefficient equilibria, while models with infinite lifetime and altruistic individuals cannot. Do strong intergenerational altruism and high life expectancy prevent the occurence of inefficient equilibria?...

This is a study in the field of unemployment and unemployability. I build an unclosed matching model of unemployment, where matching rates are exogenous. The value of an unfilled job depends on the average skill of the unemployed, who are supposed to lose (absolutely, or relatively) some of...

In order to increase skilled labour, governments manipulate the quantity and the quality of students. This paper investigates both dynamical and steady state responses of such a shock in a model of matching frictions with both skilled and unskilled agents. A less selective educationpolicy leads...

Ce travail propose un mecanisme nouveau permettant d'expliquer la presence de dependance temporelle dans les risques individuels de sortie du chomage. Lorsque les chomeurs sont ex ante heterogenes et que leur competence est imparfaitement observable, le licenciement des moins doues est un...

Our aim is to explain why the pattern of relative unemployment rates by education groups was non monotonic in most of the OECD countries. In a two-sector matching model, a simple unexpected productivity shock biased against unskilled labor can replicate the observed dynamics. Effects of...

We consider the search behaviour of an infinite lifetime worker whose expected matching gains are assumed to be decreasing over the spell of unemployment. The search effort is linked positively to future earnings and negatively to the worker's reservation wage. We show that this may give rise to...

Dans le cadre d'un modele d'appariement a la Diamond-Pissarides cet article analyse les effets macroeconomiques d'une elevation reguliere du capital humain des nouvelles generations entrant sur le marche du travail. Ces effets concernent la formation des salaires, le chomage et l'exclusion des...