The Impact of Growth, Labour Cost and Working Time on Employment: Lessons from the French Experience
To account for employment evolutions at the macro-economic level, we propose a modelling where employment is explained by added value, working time and real labour cost. Estimations using quarterly French macro-economic data are carried out in a multivariate framework for three sets of sectors. We get a relationship in which employment rises with growth and decreases when labour cost or working time rises in industrial sectors as well as in non-industrial ones. This model then permits to measure retrospectively the contributions of each of the variables to employment inflections since the mid-eighties.
|Date of creation:||Sep 2003|
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|Publication status:||published in: Labour, 2005, 19 (3), 595-620|
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