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Structural and reduced approaches of the equilibrium rate of unemployment, a comparison between France and the United States

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  • Heyer, Eric
  • Reynes, Frederic
  • Sterdyniak, Henri

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Bibliographic Info

Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 24 (2007)
Issue (Month): 1 (January)
Pages: 42-65

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Handle: RePEc:eee:ecmode:v:24:y:2007:i:1:p:42-65

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Web page: http://www.elsevier.com/locate/inca/30411

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References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Henri Delessy & Philippine Cour & Hervé Le Bihan & Henri Sterdyniak, 1997. "Le taux de chômage d'équilibre, anciennes et nouvelles approches," Sciences Po publications info:hdl:2441/5268, Sciences Po.
  2. Henri Sterdyniak & Christine Rifflart & Olivier Passet, 1997. "Ralentissement de la croissance potentielle et hausse du chômage," Sciences Po publications info:hdl:2441/2476, Sciences Po.
  3. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
  4. Caballero, Ricardo J. & Hammour, Mohamad L., 1998. "Jobless growth: appropriability, factor substitution, and unemployment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 48(1), pages 51-94, June.
  5. Gordon, Robert J, 1996. "The Time-varying NAIRU and its Implications for Economic Policy," CEPR Discussion Papers 1492, C.E.P.R. Discussion Papers.
  6. Éric Heyer & Frédéric Reynès & Henri Sterdyniak, 2005. "Variables observables et inobservables dans la théorie du taux de chômage d'équilibre. Une comparaison France/États-Unis," Revue économique, Presses de Sciences-Po, vol. 56(3), pages 593-603.
  7. Heyer, E. & Le Bihan, H. & Lerais, F., 1999. "Relation de Phillips, boucle prix-salaire : une estimation par la méthode de Johansen," Documents de Travail de l'OFCE 1999-01, Observatoire Francais des Conjonctures Economiques (OFCE).
  8. Ricardo J. Caballero & Eduardo M.R.A. Engel & John Haltiwanger, 1995. "Aggregate Employment Dynamics: Building From Microeconomic Evidence," NBER Working Papers 5042, National Bureau of Economic Research, Inc.
  9. Olivier J. Blanchard & Lawrence H. Summers, 1986. "Hysteresis and the European Unemployment Problem," Working papers 427, Massachusetts Institute of Technology (MIT), Department of Economics.
  10. Odile Chagny & Frédéric Reynès & Henri Sterdyniak, 2002. "The equilibrium rate of unemployment : a theoretical discussion and an empirical evaluation for six OECD countries," Sciences Po publications n°2002-04, Sciences Po.
  11. Silvia Fabiani & Ricardo Mestre, 2004. "A system approach for measuring the euro area NAIRU," Empirical Economics, Springer, vol. 29(2), pages 311-341, 05.
  12. Jaeger, Albert & Parkinson, Martin, 1994. "Some evidence on hysteresis in unemployment rates," European Economic Review, Elsevier, vol. 38(2), pages 329-342, February.
  13. Thomas Laubach, 2001. "Measuring The NAIRU: Evidence From Seven Economies," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 218-231, May.
  14. Nicolas Sobczak & Renaud Méary & Jean-Philippe Cotis, 1998. "Le chômage d'équilibre en France. Une évaluation," Revue économique, Presses de Sciences-Po, vol. 0(3), pages 921-935.
  15. Assar Lindbeck, 1993. "Unemployment and Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121751, December.
  16. George A. Akerlof & William T. Dickens & George L. Perry, 2000. "Near-Rational Wage and Price Setting and the Long-Run Phillips Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 1-60.
  17. Olivier Blanchard & Justin Wolfers, 1999. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," NBER Working Papers 7282, National Bureau of Economic Research, Inc.
  18. Alan Manning, 1992. "Wage Bargaining and the Phillips Curve: The Identification and Specification of Aggregate Wage Equations," CEP Discussion Papers dp0062, Centre for Economic Performance, LSE.
  19. Camille Logeay & Silke Tober, 2003. "Time-varying Nairu and Real Interest Rates in the Euro Area," Discussion Papers of DIW Berlin 351, DIW Berlin, German Institute for Economic Research.
  20. Irac, D., 2000. "Estimation of a Time Varying NAIRU for France," Working papers 75, Banque de France.
  21. Douglas Staiger & James H. Stock & Mark W. Watson, 1996. "How Precise are Estimates of the Natural Rate of Unemployment?," NBER Working Papers 5477, National Bureau of Economic Research, Inc.
  22. Eric Heyer & Xavier Timbeau, 2002. "Le chômage structurel à 5% en France ?," Sciences Po publications info:hdl:2441/1625, Sciences Po.
  23. Neil R. Ericsson & James G. MacKinnon, 2002. "Distributions of error correction tests for cointegration," Econometrics Journal, Royal Economic Society, vol. 5(2), pages 285-318, 06.
  24. Soskice, David, 1990. "Wage Determination: The Changing Role of Institutions in Advanced Industrialized Countries," Oxford Review of Economic Policy, Oxford University Press, vol. 6(4), pages 36-61, Winter.
  25. Apel, Mikael & Jansson, Per, 1999. "A theory-consistent system approach for estimating potential output and the NAIRU," Economics Letters, Elsevier, vol. 64(3), pages 271-275, September.
  26. Olivier Jean Blanchard & Lawrence Katz, 1999. "Wage Dynamics: Reconciling Theory and Evidence," NBER Working Papers 6924, National Bureau of Economic Research, Inc.
  27. Graham Elliott & Thomas J. Rothenberg & James H. Stock, 1992. "Efficient Tests for an Autoregressive Unit Root," NBER Technical Working Papers 0130, National Bureau of Economic Research, Inc.
  28. Robert G. King & James H. Stock & Mark W. Watson, 1995. "Temporal instability of the unemployment-inflation relationship," Economic Perspectives, Federal Reserve Bank of Chicago, issue May, pages 2-12.
  29. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
  30. Stephen Nickell & Luca Nunziata & Wolfgang Ochel, 2005. "Unemployment in the OECD Since the 1960s. What Do We Know?," Economic Journal, Royal Economic Society, vol. 115(500), pages 1-27, 01.
  31. Taylor, John B, 1980. "Aggregate Dynamics and Staggered Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 1-23, February.
  32. Tobin, James, 1972. "Inflation and Unemployment," American Economic Review, American Economic Association, vol. 62(1), pages 1-18, March.
  33. Pete Richardson & Laurence Boone & Claude Giorno & Mara Meacci & David Rae & David Turner, 2000. "The Concept, Policy Use and Measurement of Structural Unemployment: Estimating a Time Varying NAIRU Across 21 OECD Countries," OECD Economics Department Working Papers 250, OECD Publishing.
  34. Jean-Philippe Cotis & Nicolas Sobczak & Renaud Méary, 1998. "Le chômage d'équilibre en France. Une évaluation," Revue Économique, Programme National Persée, vol. 49(3), pages 921-935.
  35. Henri Sterdyniak & Michèle Debonneuil, 1984. "La boucle prix-salaires dans l'inflation," Revue Économique, Programme National Persée, vol. 35(2), pages 267-312.
  36. Durbin, James & Koopman, Siem Jan, 2001. "Time Series Analysis by State Space Methods," OUP Catalogue, Oxford University Press, number 9780198523543.
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Citations

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Cited by:
  1. Jean-Luc Gaffard, 2012. "Crise de la théorie et crise de la politique économique : des modèles d’équilibre général stochastique aux modèles de dynamique hors de l’équilibre," Sciences Po publications 2012-10, Sciences Po.
  2. Lemoine, Matthieu & Mazzi, Gian Luigi & Monperrus-Veroni, Paola & Reynes, Frédéric, 2008. "Real time estimation of potential output and output gap for theeuro-area: comparing production function with unobserved componentsand SVAR approaches," MPRA Paper 13128, University Library of Munich, Germany, revised Nov 2008.
  3. Lemoine, M. & de la Serve, M.E. & Chetouane, M., 2011. "Impact of the crisis on potential growth: An approach based on unobserved component models (in french)," Working papers 331, Banque de France.
  4. Eric Heyer, 2011. "The effectiveness of economic policy and position in the cycle The case of tax reductions on overtime in France," Documents de Travail de l'OFCE 2011-09, Observatoire Francais des Conjonctures Economiques (OFCE).
  5. Filatriau Olivier & Frédéric Reynès, 2012. "A new estimate of discouraged and additional worker effects on labor participation by sex and age in oecd countries," Documents de Travail de l'OFCE 2012-09, Observatoire Francais des Conjonctures Economiques (OFCE).
  6. Noé N'Semi & Aurélien Gaimon & Maël Theulière & Vincent Lapegue & Frédéric Reynès & Paola Veroni, 2007. "Does the interaction between shocks and institutions solve the OECD unemployment puzzle ? A theoretical and empirical appraisal," Sciences Po publications 2007-34, Sciences Po.
  7. Noé N'Semi & Aurélien Gaimon & Maël Theulière & Vincent Lapegue & Frédéric Reynès & Paola Veroni, 2008. "Does the interaction between shocks and institutions solve the OECD shocks and institutions solve the OECD Unemployment Puzzle ? A Theoritical and Empirical Appraisal," Sciences Po publications info:hdl:2441/9726, Sciences Po.
  8. repec:spo:wpecon:info:hdl:2441/6120 is not listed on IDEAS
  9. Mabrouk Chetouane & Matthieu Lemoine & Marie-Elisabeth de la Serve, 2011. "Impact de la crise sur la croissance potentielle. Une approche par les modèles à composantes inobservables," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 89-112.
  10. repec:spo:wpecon:info:hdl:2441/9726 is not listed on IDEAS
  11. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09j0h18ghk9 is not listed on IDEAS
  12. repec:spo:wpecon:info:hdl:2441/5l6uh8ogmqildh09h61ql8ubo is not listed on IDEAS
  13. Eric Heyer, 2010. "Efficacité de la politique économique et position dans le cycle: le cas de la défiscalisation des heures supplémentaires en France," Documents de Travail de l'OFCE 2010-26, Observatoire Francais des Conjonctures Economiques (OFCE).

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