Chômage structurel et capacités de production. Une approche théorique de moyenne-longue période
The theory of equilibrium unemployment refers to the wage-price loop, but so far, more attention has been paid to the wage than to the price equation. The model presented hereafter deals with the symmetric influences of the unemployment rate on wage setting and of the utilization rate on price setting. Unemployment splits into an « unemployment of full capacity » and another component, depending on social bargaining. It results that economic policies, as far as they have an impact on the maximal production capacity, are not neutral for the equilibrium unemployment rate (nor for the equilibrium utilization rate). This analysis suggests that fighting against unemployment does not require only structural measures related to wage setting ; it could be more efficient and less costly from a social point of view to make structural measures aimed at increasing productive investments.JEL codes : E22, E23, E24, E12.
When requesting a correction, please mention this item's handle: RePEc:cai:reofsp:reof_084_0243. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.