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Le chômage d'équilibre, de quoi parlons-nous ?

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  • Yannick L'Horty
  • Florence Thibault

Abstract

[fre] Les économistes n'ont pas de vocabulaire plus riche que lorsqu'ils abordent l'analyse du chômage d'équilibre. Si cette inflation de concepts (NAIRU, chômage frictionnel...) ne contribue guère à la clarté des débats, elle recouvre et illustre pourtant de sérieuses différences d'approches. Certes, ces notions ont pour point commun de définir une norme de taux de chômage servant de référence à moyen-long terme à la conduite de la politique macro-économique. Cependant, leurs soubassements théoriques, leurs propriétés, les conseils de politique économique auxquels elles aboutissent et leur validité empirique interdisent toute confusion. Nous proposons dans un premier temps de distinguer les principales notions de chômage faisant référence au concept d'équilibre. Dans un deuxième temps, nous discutons la généralité du chômage d'équilibre déduit d'un modèle WS-PS en nous attachant à montrer que ce cadre théorique est probablement le plus neutre en termes de politique macroéconomique. Une troisième section aborde la mesure du chômage d'équilibre et souligne les apports et les difficultés de ce champ d'investigation en s'appuyant sur les travaux empiriques récents menés en France dans ce domaine. La quatrième section propose quelques tests empiriques indirects de la pertinence d'une approche en termes de chômage d'équilibre. [eng] economic policy makers and their empirical validity are different. We start by reviewing the main unemployment notions that refer to the concept of equilibrium. Then we discuss the generalizations about equilibrium unemployment deduced from a WS-PS model, taking pains to show that this theoretical framework is probably the most neutral one in terms of macroeconomic policy. In the third section, we deal with the measurement of equilibrium unemployment and highlight the contributions and difficulties encountered in this area of investigation on the basis of recent empirical work in this field conducted in France. The fourth section proposes some indirect empirical tests of the relevance of an equilibrium unemployment rate approach.

Suggested Citation

  • Yannick L'Horty & Florence Thibault, 1998. "Le chômage d'équilibre, de quoi parlons-nous ?," Revue Française d'Économie, Programme National Persée, vol. 13(4), pages 51-81.
  • Handle: RePEc:prs:rfreco:rfeco_0769-0479_1998_num_13_4_1068
    Note: DOI:10.3406/rfeco.1998.1068
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    References listed on IDEAS

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    Cited by:

    1. Éric Heyer & Frédéric Reynès & Henri Sterdyniak, 2005. "Variables observables et inobservables dans la théorie du taux de chômage d'équilibre. Une comparaison France/États-Unis," Revue économique, Presses de Sciences-Po, vol. 56(3), pages 593-603.
    2. Éric Heyer & Xavier Timbeau, 2002. "Le chômage structurel à 5 % en France ?," Revue de l'OFCE, Presses de Sciences-Po, vol. 80(1), pages 115-151.

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