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Courbe de Phillips et modèle WS-PS

Author

Listed:
  • Hervé Le Bihan
  • Henri Sterdyniak

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

Breaking with the empirical practice of Phillips Curves characterised by a negative influence of the unemployment rate on growth rate of nominal wages, the « new unemployment theories » have tried to restate the concept of equilibrium rate of unemployment from WS-PS curves, based on theoretical and micro-economic works, in which the unemployment rate has a negative impact on the level of wages. They claim to explain the growth and the persistence of mass unemployment in Europe since 25 years. However, the existence and the features of the real wage target that are postulated by this approach set many delicate theoretical and empirical problems. Thus, the various works of this school give contradictory explanations of the rise of unemployment.

Suggested Citation

  • Hervé Le Bihan & Henri Sterdyniak, 1998. "Courbe de Phillips et modèle WS-PS," SciencePo Working papers Main hal-03458369, HAL.
    • Handle: RePEc:hal:spmain:hal-03458369
    DOI: 10.2307/3502822
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03458369
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    Cited by:

    1. Henri Sterdyniak & Pierre Villa & Département analyse et prévision de l'OFCE, 1998. "Pour une réforme du financement de la Sécurité sociale," Revue de l'OFCE, Programme National Persée, vol. 67(1), pages 155-205.
    2. Valérie Chauvin & Gaël Dupont & Éric Heyer & Xavier Timbeau, 2001. "Le retour au plein emploi ?," Revue de l'OFCE, Presses de Sciences-Po, vol. 79(4), pages 195-233.
    3. 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.

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