In this paper, we show that in a dynamic general equilibrium economy, the presence of moral hazard need not induce large cuts in optimal unemployment insurance benefits when agents are asked to vote on these benefits. We find that it takes a quite large proportion of "shirkers" to bend the...

In this paper, we investigate whether the different distributions of European, Canadian and US labor forces may explain their differences in unemployment insurance generosity and attitude towards moral hazard. We do so within a dynamic general equilibrium model with indivisible labor and...

Modern business cycle theory involves developing models that explain stylized facts. For this strategy to be successful, these facts should be well established. In this paper, we focus on the stylized facts of international business cycles. We use the generalized method of moments and quarterly...

This is a non comprehensive list of references on economic fluctuations, with a special focus on real business cycle models and similar models. This bibliography is regularly updated and downloadable in various formats. <P> Ce document comprend une liste importante, quoique incomplète, de...</p>

Japan has gone through a long period of stagnation in the 1990s. We use a model of financial intermediation and endogenous occupational choice to understand this stagnation. In this model, investment projects are partly financed by loans and banks screen candidates by looking at their wealth....

Dans ce texte, nous nous penchons sur la question du chômage et de sa provenance. Notre réflexion nous amène à considérer le chômage essentiellement comme l'effet de l'adaptation de comportements individuels à une série de règles sociales. Une assurance chômage peut s'avérer utile,...

The goal of this paper is to establish if unemployment insurance policies are more generous in Europe than in the United States, and by how much. We take the examples of France and one particular American state, Ohio, and use the methodology of Pallage, Scruggs and Zimmermann (2008) to find a...

Forecasting at business cycle frequencies is traditionally done with statistically estimated econometric models. This paper takes a different approach, using a calibrated dynamic general equilibrium model in line with the real business cycle literature. First attempts by others have not proved...