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Chocs persistants, information imparfaite et indexation des salaires optimale

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  • Hubert Kempf

Abstract

[eng] Persistent shocks, imperfect information and optimal wage indexation . . This paper investigates the characteristics of an optimal indexing wage contract generating short-term wage rigidities in an economy with monetary and real shocks, both with a permanent and a transitory component, and characterized by an imperfect information structure. An optimal value of the indexing parameter is obtained and its sensitivity to the variance of the different types of shocks is discussed. Partial indexation to monetary shocks appears as the resuit of a problem of informational inference. Standard results on optimal indexation are obtained as a special case. A better information at a given period is shown to permanently affect the indexing parameters at the following periods. The optimal contract length is discussed in relation with the endogenous search of information. [fre] Chocs persistants, information imparfaite et indexation des salaires optimale. . Cet article est consacré à l'étude des caractéristiques d'un contrat salarial avec indexation dans une économie où se produisent simultanément des chocs monétaires et réels. Ces différents chocs sont tous formés d'un composant permanent et d'un composant transitoire. Les agents disposent d'une information imparfaite dans la mesure où l'indexation est une indexation ex-ante. Une valeur optimale du coefficient d'indexation est obtenue et l'impact des variances des différents chocs est discuté. L'indexation partielle aux chocs monétaires apparaît comme le résultat d'un problème d'inférence. Les résultats classiques sur l'indexation optimale sont obtenus comme un cas particulier. Une meilleure information à une période donnée affecte de façon permanente le schéma d'indexation et engendre une suite de coefficients d'indexation optimale variant de période en période. La durée optimale d'un contrat d'indexation résulte d'une recherche endogène d'une information additionnelle.

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  • Hubert Kempf, 1991. "Chocs persistants, information imparfaite et indexation des salaires optimale," Revue Économique, Programme National Persée, vol. 42(1), pages 5-28.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1991_num_42_1_409262
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    References listed on IDEAS

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    1. Karni, Edi, 1983. "On Optimal Wage Indexation," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 282-292, April.
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    Cited by:

    1. Hubert Kempf, 1994. "L'indexation des salaires et la politique monétaire : Que nous apporte une approche stratégique ?," Revue Économique, Programme National Persée, vol. 45(3), pages 415-428.
    2. Louis Phaneuf, 1992. "Contrats de salaire, anticipations d'équilibre et persistance du chômage," Revue Économique, Programme National Persée, vol. 43(3), pages 445-458.

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