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Enrichissement de la croissance en emploi et productivité

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  • Nicolas Carnot
  • Alain Quinet
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    Abstract

    Enrichissement de la croissance en emploi et productivité, by Nicolas Carnot and Alain QuinetThe decline in labour productivity gains since the late 80s in Europe, especially in France, may have several origins. It may reflect a slowdown in the rate of technical progress, the incidence of work sharing schemes or a rebalancing of factor productivities. This article highlights the importance of this rebalancing process, in response to the fall in the relative cost of labour, particularly unskilled labour.The decline in labour productivity gains cannot be considered as an unfavourable development as long as it reflects a labour deepening process, in the context of falling unemployment. We illustrate the role of factor costs using a standard labour market model including labour heterogeneity. A dynamic version of the model is calibrated to provide an idea of the response of GDP, employment and factor productivities to cost shocks.

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    Bibliographic Info

    Article provided by De Boeck Université in its journal Recherches économiques de Louvain.

    Volume (Year): 69 (2003)
    Issue (Month): 1 ()
    Pages: 97-118

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    Handle: RePEc:cai:reldbu:rel_691_0097

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    Web page: http://www.cairn.info/revue-recherches-economiques-de-louvain.htm

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    Keywords: employment; growth; productivity.;

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    1. SNEESSENS, Henri R. & SHADMAN-MEHTA, Fatemeh, 1994. "Real Wages, Skill Mismatch and Unemployment Persistence," CORE Discussion Papers 1994050, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Caballero, R.J. & Hammour, M.L., 1997. "Jobless Growth: Appropriability, Factor-Substitution, and Unemployment," Working papers 97-18, Massachusetts Institute of Technology (MIT), Department of Economics.
    3. Rowthorn, Robert, 1995. "Capital Formation and Unemployment," Oxford Review of Economic Policy, Oxford University Press, vol. 11(1), pages 26-39, Spring.
    4. Layard, Richard & Nickell, Stephen & Jackman, Richard, 1991. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780198284345, October.
    5. P. BISCOURP & Ch. GIANELLA, 2001. "Substitution and complementarity between capital, skilled and less skilled workers: an analysis at the firm level in the French manufacturing industry," Documents de Travail de la DESE - Working Papers of the DESE g2001-13, Institut National de la Statistique et des Etudes Economiques, DESE.
    6. Bob Rowthorn, 1999. "Unemployment, Capital-Labor Substitution, and Economic Growth," IMF Working Papers 99/43, International Monetary Fund.
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