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...

[eng] This article seeks to assess the contribution of a non-Walrasian model of the labor market to an analysis of economic dynamics. We begin by discussing our model’s capacity to reproduce a labor volatility comparable to that of GDP , a lesser volatility of real wages, and the acyclical...

Our paper seeks to gain insights into the effects of labor-market institutions on the dynamics of the labor market, during the diffusion process of new technologies. Because these institutions differ between Europe and the United States, we expect the dynamics of the labor market to also diverge...

In this paper, we develop a matching model where firms invest in transferable human capital. Workers are endowed with heterogeneous abilities and, as a result of economic turbulence, can undergo a depreciation of their human capital during unemployment spells. Firms take inefficient training...

L'ambition de ce travail est d'évaluer quantitativement la capacité de l'épargne de précaution à couvrir le risque de chômage dans le cadre d'une économie caractérisée par des risques idiosyncratiques sur le marché du travail. Il apparaît que l'épargne de précaution permet de...

This paper extends the job creation–job destruction approach to the labor market to take into account a deterministic finite horizon. As hirings and separations depend on the time over which investment costs can be recouped, the life-cycle setting implies age-differentiated labor-market flows....

This paper examines the age-related design of firing taxes by extending the theory of job creation and job destruction to account for a finite working life-time. We first argue that the potential employment gains related to employment protection are high for older workers, as they are magnified...

Our objective in this paper is to show, by adopting a life-cycle unemployment equilibrium approach, that labor market institutions such as unemployment benefits, employment protection and mandatory retirement age have an age-differentiated impact which can explain age-differentiated employment...