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Enrichissement de la croissance en emploi et productivité

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  • Nicolas Carnot
  • Alain Quinet

Abstract

Enrichissement de la croissance en emploi et productivité, by Nicolas Carnot and Alain Quinet The 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.

Suggested Citation

  • Nicolas Carnot & Alain Quinet, 2003. "Enrichissement de la croissance en emploi et productivité," Recherches économiques de Louvain, De Boeck Université, vol. 69(1), pages 97-118.
  • Handle: RePEc:cai:reldbu:rel_691_0097
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    References listed on IDEAS

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    1. 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.
    2. Bob Rowthorn, 1999. "Unemployment, Capital-Labor Substitution, and Economic Growth," IMF Working Papers 99/43, International Monetary Fund.
    3. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
    4. Rowthorn, Robert, 1995. "Capital Formation and Unemployment," Oxford Review of Economic Policy, Oxford University Press, vol. 11(1), pages 26-39, Spring.
    5. 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).
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    Keywords

    employment; growth; productivity.;

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