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Schizophrénie intergénérationnelle

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  • Bruno Decreuse
  • Bertrand Wigniolle

Abstract

Love pushed beyond its paroxysm leads to suffocation. That is the moral of this article, which depicts an altruistic parent setting her labour supply to offer the best living conditions to her child. When parents and children are perfectly substituable in production, this behaviour pushes all wages down. If hourly wages are rigid, employment is rationed and the youth are the primary victims of such rationing. We show this mechanism may originate endogenous fluctuations between under and full employment when the older workers? productivity negatively responds to past unemployment. We also analyse the political support for the minimum wage. When the youth productivity is random, the minimum wage, the older workers? labour supply and youth unemployment together rise with the intensity of parental altruism.

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Bibliographic Info

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

Volume (Year): 72 (2006)
Issue (Month): 1 ()
Pages: 49-74

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Handle: RePEc:cai:reldbu:rel_721_0049

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

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Keywords: OLG model; altruism; endogenous labour supply; unemployment;

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  1. Becker, Sascha O. & Bentolila, Samuel & Fernandes, Ana & Ichino, Andrea, 2004. "Job Insecurity and Children’s Emancipation," IZA Discussion Papers 1046, Institute for the Study of Labor (IZA).
  2. Emmanuel THIBAULT, 2001. "Bequests and the Intergenerational Degree of Altruism," Discussion Papers (REL - Recherches Economiques de Louvain) 2001022, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  3. Saint-Paul, Gilles, 1993. "On the Political Economy of Labour Market Flexibility," CEPR Discussion Papers 803, C.E.P.R. Discussion Papers.
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  5. Cahuc, Pierre & Michel, Philippe, 1996. "Minimum wage unemployment and growth," European Economic Review, Elsevier, vol. 40(7), pages 1463-1482, August.
  6. Coate, Stephen, 1995. "Altruism, the Samaritan's Dilemma, and Government Transfer Policy," American Economic Review, American Economic Association, vol. 85(1), pages 46-57, March.
  7. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
  8. Stark, Oded, 1989. "Altruism and the Quality of Life," American Economic Review, American Economic Association, vol. 79(2), pages 86-90, May.
  9. Abowd, John M & Kramarz, Francis & Margolis, David N, 1999. "Minimum Wages and Employment in France and the United States," CEPR Discussion Papers 2159, C.E.P.R. Discussion Papers.
  10. Abowd, John M. & Kramarz, Francis & Margolis, David N. & Philippon, Thomas, 2000. "The Tail of Two Countries: Minimum Wages and Employment in France and the United States," IZA Discussion Papers 203, Institute for the Study of Labor (IZA).
  11. Agell, Jonas, 1998. "On the Benefits from Rigid Labour Markets: Norms, Market Failures, and Social Insurance," Working Paper Series 1998:17, Uppsala University, Department of Economics.
  12. Bazen, Stephen & Skourias, Nicolas, 1997. "Is there a negative effect of minimum wages on youth employment in France?," European Economic Review, Elsevier, vol. 41(3-5), pages 723-732, April.
  13. Pierre Pestieau & Philippe Michel, 2000. "Retraite par répartition et âge de la retraite," Revue économique, Presses de Sciences-Po, vol. 0(1), pages 15-30.
  14. Marceau, Nicolas & Boadway, Robin, 1994. " Minimum Wage Legislation and Unemployment Insurance as Instruments for Redistribution," Scandinavian Journal of Economics, Wiley Blackwell, vol. 96(1), pages 67-81.
  15. Hu, Sheng Cheng, 1979. "Social Security, the Supply of Labor, and Capital Accumulation," American Economic Review, American Economic Association, vol. 69(3), pages 274-83, June.
  16. Russell S. Sobel, 1999. "Theory and Evidence on the Political Economy of the Minimum Wage," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 761-785, August.
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