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Salaire et emploi dans la théorie des cycles réels

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  • Jean-Olivier Hairault

Abstract

[fre] La théorie des cycles réels a pris le contre-pied de la macro-économie keynésienne traditionnelle. Les fluctuations de l'emploi et du salaire réel pourraient être le résultat d'un ajustement de l'offre de travail grâce à une parfaite flexibilité du salaire aux variations de la demande de travail induites par des chocs technologiques. Les variations transitoires du salaire et le mécanisme de substitution intertemporelle sur l'offre de travail seraient alors centrales pour reproduire l'importance des fluctuations de l'emploi. Toutefois, cette représentation du marché du travail, malgré certaines extensions visant à explorer différentes dimensions de l'offre de travail ou à prendre en compte d'autres sources d'impulsion, n'a pas pu répondre aux exigences empiriques que s'assigne le courant des cycles réels. Seule l'introduction d'éléments néo-keynésiens, impliquant des rigidités réelles et nominales, dans le cadre de la méthodologie des cycles réels permet de donner une explication satisfaisante à la dynamique observée des salaires et de l'emploi. Finalement, les modèles d'équilibre général intertemporels stochastiques sont le cadre d'une nouvelle synthèse en macro-économie : pouvoirs de marché, externalités et coûts de transaction caractérisent le marché du travail, mais dans un cadre déterminé par les choix intertemporels rationnels des acteurs économiques. [eng] Real Business Cycle models try to explain the labor market dynamics in a walrasian framework. The volatility of employment is explained by an intertemporal substitution of leisure in the cycle. However, these models suffer from several imperfections, mainly the too high level of the wage-employment correlation and the too weak volatility of employment relatively to wage. Extensions in a walrasian framework, exploring the labor supply behavior or including other sources of impulsions, do not really succeed in improving the ability of this kind of models to replicate the observed fluctuations. Only the introduction of real and nominal rigidities allows to give a better explanation of the labor market dynamics, even if the intertemporal choice framework is always in the lines of the RBC theory methodology.

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  • Jean-Olivier Hairault, 1999. "Salaire et emploi dans la théorie des cycles réels," Cahiers d'Économie Politique, Programme National Persée, vol. 34(1), pages 195-219.
    • Handle: RePEc:prs:caecpo:cep_0154-8344_1999_num_34_1_1256
    DOI: 10.3406/cep.1999.1256
    Note: DOI:10.3406/cep.1999.1256
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    Cited by:

    1. Boyer, Robert, 1998. "Le lien salaire-emploi dans la théorie de la régulation. Autant de relations que de configurations institutionnelles," CEPREMAP Working Papers (Couverture Orange) 9814, CEPREMAP.
    2. Robert Boyer, 1998. "De « La Théorie Générale » à la Nouvelle Économie Classique : Une réflexion sur la nouveauté en macroéconomie," Cahiers d'Économie Politique, Programme National Persée, vol. 33(1), pages 7-56.
    3. Robert Boyer, 1999. "Le lien salaire-emploi dans la théorie de la régulation. Autant de relations que de configurations institutionnelles," Cahiers d'Économie Politique, Programme National Persée, vol. 34(1), pages 101-161.

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    More about this item

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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