Data/hora: 11/06/2024 14:30:53

Provedor de dados: 	31	
País: 	United States	
Título: 	Why Is French Equilibrium Unemployment So High? An Estimation of the WS-PS Model.	
Autores: 	L'Horty,   Yannick; Rault,   Christophe.	
Data: 	2008-10-09	
Ano: 	2003	
Palavras-chave: 	Labour market; WS-PS model; Equilibrium unemployment; Cointegration; Conditional VAR-ECM model; Labor and Human Capital; C32; E24.	
Resumo: 	Unemployment in France rose steadily from the early-seventies to the mid-eighties. Since the mid-eighties it has continued to experience fluctuations around a very high average level. Equilibrium unemployment theories are a useful framework within which to account for these developments. A multivariate estimation of the WS-PS model on macroeconomic quarterly data, which includes a larger number of potential unemployment determinants than earlier work, allows an enriched reading of the rise in French unemployment and of its persistence at a high level. We estimated it using a conditional VAR-ECM model, which is based upon the weak exogeneity properties of variables over the 1970-1/1996-4 period. The rise in equilibrium unemployment by 10 points in 25 years can essentially be explained by the rise in tax and social wedge, the slowdown in labour productivity and the deterioration of job security. Terms of exchange and skill mismatch account for only a slim part of the rise in equilibrium unemployment.	
Tipo: 	Journal Article	
Idioma: 	Inglês	
Identificador: 	Print ISSN 1514-0326

Online ISSN 1667-6726

http://purl.umn.edu/44062	
Relação: 	Journal of Applied Economics&gt;Volume 6, Number 1, May 2003	
Formato: 	30