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Participation, unemployment and wage bargaining in a real business cycle model

  • François LANGOT

    (université du Maine, GAINS and CEPREMAP)

  • Muriel PUCCI

    (Université de Paris I and MAD)

The objective of this article is to evaluate quantitative implications of the hypothesis of matching, with endogenous participation, in the framework of a real cycle model. The choice of participation results from a trade off between domestic production and search for a job. Thus, fluctuations of the unemployment summarise the flows in and out of the labour force. Moreover, in this model, unemployment fluctuations are not Pareto optimal as in Andolfatto [1966] and Merz [1995]. Results of the simulations show how it is possible to explain some stylised facts of the American labour market when flows on this market are so clarified.

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Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 1996034.

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Length: 29
Date of creation: 01 Sep 1996
Date of revision:
Handle: RePEc:ctl:louvre:1996034
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