This paper contributes to the already vast literature on demography-induced international capital flows by examining the role of labor market imperfections and institutions. We setup a two-country overlapping generations model with search unemployment, which we calibrate on EU15 and US data....

This paper provides a simple matching model in which unemployed workers and employers can be matched together trough social network or trough more formal methods of search. We show that this crowding-out effect may be socially costly. For that reason, a policy increasing the social capital of...

This paper presents an intertemporal model in which the agents may face different quantity constraints resulting from technological rigidities, microeconomic uncertainty and market segmentation. Its main purpose is to derive the path of the unemployment rate, the rate of capacity utilisation and...

In this paper we build up a canonical vintage capital model with embodied and disembodied technical progress and generalized Nash bargaining in the labor market. First, we handle both types of technical progress as exogenous, but we endogenize them after. In these setups, we comprehensively...

Dans cet article, nous étudions les effets des critères d’attribution des allocations chômage dans un modèle de chômage d’équilibre où les efforts de recherche et les salaires sont endogènes. La prise en compte d’une durée d’emploi minimale exigée pour bénéficier des...

This paper analyses how a diversifying firm can strategically design its wage policy in order to gain market power in unionized markets. This paper shows that union power in the local market power in the local market coupled with the nature of the wage contractual agreement process-i.e. the type...

This paper aims at explaining the dynamics of labor markets in Spain, especially the high persistence of unemployment and the Beveridge curve. We build a stochastic dynamic general equilibrium matching model, which assumes failures in the matching between vacancies and unemployed. We calibrate...

This article argues in favor of drawing a distinction between the concepts of labour rationing and unemployment, the former referring to the occurrence of excess supply in a given labour market, the latter to job-waiting activity. In a first part, the literature on the possible consequences of...

A dynamic bargaining model with endogenous prices, wages and investment is presented. It accounts for capital and labour underutilization at steady state and displays various patterns of unemployment rate and capacity utilization rate comovements as a function of demand and supply shocks. The...

In an unionized OLG model, it is shown that steady-state underutilization of labour and equipment can be due to the combinaison of the following elements : (i) Irreversibility of capital, technology and skill decision, (ii) Firm specific shocks on productivity. The presence of unions is neither...