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Contrats de salaire, croissance endogène et fluctuations

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  • Ambler, Steven

    (Département des sciences économiques, Université du Québec à Montréal)

  • Cardia, Emanuela

    (Département de sciences économiques, Université de Montréal)

  • Phaneuf, Louis

    (Département des sciences économiques, Université du Québec à Montréal)

Abstract

We develop, calibrate and simulate a model of the business cycle which encompasses several different classes of modern business cycle models. The model includes elements of endogenous growth, monopolistic competition in the goods market, and nominal rigidities due to non-contingent wage contracts. This enables us to highlight the crucial assumptions of these approaches and to what extent they generate predictions which are in line with the stylized facts. We pay close attention to labor market phenomena; the correlation between labor productivity and employment, and the relative variances of fluctuations in productivity and employment. Since the time of Keynes, Dunlop and Tarshis, the ability of business cycle models to reproduce the observed comovements of these variables has been considered an important test. Nous analysons, calibrons et simulons un modèle des fluctuations économiques qui est très général et qui permet de réunir plusieurs approches modernes à la modélisation du cycle économique. Le modèle emboîte des hypothèses de croissance endogène, de concurrence monopolistique sur le marché des biens et services, et de rigidités nominales par le biais de contrats de salaire non contingents. Ceci nous permet de mettre en évidence les hypothèses importantes de ces approches et d’analyser dans quelle mesure elles engendrent des prédictions qui sont conformes aux faits. Nous prêtons une attention particulière à des phénomènes associés au fonctionnement du marché du travail : la corrélation entre la productivité de la main-d’oeuvre et l’emploi, et la variance de l’emploi par rapport à celle de la productivité. L’explication de ces comouvements est considérée depuis l’époque de Keynes, Dunlop et Tarshis comme un test particulièrement exigeant.

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Bibliographic Info

Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

Volume (Year): 68 (1992)
Issue (Month): 1 (mars et juin)
Pages: 175-204

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Handle: RePEc:ris:actuec:v:68:y:1992:i:1:p:175-204

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  1. Matthew Shapiro & Mark Watson, 1988. "Sources of Business Cycles Fluctuations," NBER Chapters, in: NBER Macroeconomics Annual 1988, Volume 3, pages 111-156 National Bureau of Economic Research, Inc.
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Cited by:
  1. Cardia, E. & Ambler, S., 1993. "The Cyclical Behaviour of Wages and Profits Under Imperfect Competition," Cahiers de recherche 9330, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  2. Fabrice COLLARD & Guy ERTZ, 2000. "Stochastic Nominal Wage Contracts in a Cash-in-Advance model," Discussion Papers (REL - Recherches Economiques de Louvain) 2000032, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).

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