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...

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...

The economic situation of all the major developed countries has changed significantly during the 2007-2010 period. Yet many economic policies have been kept in place. This is true in particular of a key measure in French government policy: tax reductions on overtime hours and their exemption...