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Chômage d'équilibre et courbe de Phillips

Listed author(s):
  • Henri Sneessens

[fre] Vingt ans après le premier choc pétrolier, notre compréhension des causes de la persistance de taux de chômage élevés en Europe reste limitée. L'évolution observée s'explique t-elle par une dérive du taux de chômage d'équilibre ou par la lenteur et la complexité des dynamiques d'ajustement enclenchées par une succession de chocs négatifs ? L'objectif de ce texte n'est pas d'offrir une réponse à ces questions. Il est plus modestement de faire apparaître les éléments principaux du débat et de clarifier la nature des questions posées en s'efforçant de les mettre en perspective. La discussion est organisée autour du lien entre courbe de Phillips et taux de chômage d'équilibre. [eng] More than twenty years after the first oil shock, our understanding of the economic factors that may explain the persistence of high unemployment rates in Europe remains quite limited. Should we explain the unemployment rise in terms of changes in the equilibrium unemployment rate ? How should we define the latter ? Or should we rather interpret observed unemployment rate changes as the consequence of long adjustment processes triggered by a succession of negative shocks with cumulated dynamic effects ? The objective of this note is not to provide an answer to these questions. This note is simply meant to help us focus the debate on the true issues by contrasting two approaches, one based on the Phillips curve and emphasizing dynamic aspects, the other based on imperfect competition models and emphasizing equilibrium unemployment changes.

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Article provided by Programme National Persée in its journal Revue économique.

Volume (Year): 49 (1998)
Issue (Month): 3 ()
Pages: 913-920

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Handle: RePEc:prs:reveco:reco_0035-2764_1998_num_49_3_410021
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