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L'indexation des salaires : une optique de stabilisation macro-économique

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  • Patrick Artus

Abstract

[fre] A la suite des articles de Gray, ce papier considère le degré d'indexation des salaires comme une variable de commande de la politique économique, que permet de limiter les fluctuations de certains objectifs (ceux qui sont retenus ici sont : la production, la balance commerciale, les prix). On construit et on estime donc des maquettes macro-économiques, qui sont des extensions du modèle de Dornbusch, et on détermine avec ces maquettes les degrés d'indexation optimaux face à différents cbocs pour trois pays : la France, l'Allemagne, le Royaume-Uni. La comparaison des degrés optimaux et des degrés estimés permet de voir à quels chocs les différentes grandeurs économiques sont le plus sensibles pour ces trois pays, et donc clé juger de leur dépendance vis-à-vis des perturbations extérieures, des changements de politique économique. [eng] Price indexation of wages : a stabilization approach . Patrick Artus. Following Gray, this paper considers the degree of price indexation of wages as a policy variable, an appropriate choice of which permetting to limitate the fluctuations of several targets (here : production, the trade balance, prices). Small macro-economie models, which are extensions of Dornbusch's model, are constructed and estimated. The optimal degrees of price indexation are then calculated for various disturbances for three countries : France, Germany and the United-Kingdom. Comparing the optimal and estimated degrees of indexation shows which targets are most affected by the various disturbances for the three countries, and to what extent these three economics respond to international fluctuations and changes in domestic policy.

Suggested Citation

  • Patrick Artus, 1985. "L'indexation des salaires : une optique de stabilisation macro-économique," Revue Économique, Programme National Persée, vol. 36(2), pages 291-320.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1985_num_36_2_408842
    DOI: 10.3406/reco.1985.408842
    Note: DOI:10.3406/reco.1985.408842
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    References listed on IDEAS

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    1. William H. Branson & Julio J. Rotemberg, 1991. "International Adjustment with Wage Rigidity," NBER Chapters, in: International Volatility and Economic Growth: The First Ten Years of The International Seminar on Macroeconomics, pages 13-44, National Bureau of Economic Research, Inc.
    2. Gray, Jo Anna, 1976. "Wage indexation: A macroeconomic approach," Journal of Monetary Economics, Elsevier, vol. 2(2), pages 221-235, April.
    3. Gray, Jo Anna, 1978. "On Indexation and Contract Length," Journal of Political Economy, University of Chicago Press, vol. 86(1), pages 1-18, February.
    4. Dornbusch, Rudiger, 1976. "Expectations and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1161-1176, December.
    5. Michael Bruno & Jeffrey Sachs, 1979. "Macro-Economic Adjustment With Import Price Shocks: Real and Monetary Aspects," NBER Working Papers 0340, National Bureau of Economic Research, Inc.
    6. Azariadis, Costas, 1975. "Implicit Contracts and Underemployment Equilibria," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1183-1202, December.
    7. Jeffrey Sachs, 1980. "Wages, Flexible Exchange Rates, and Macroeconomic Policy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 94(4), pages 731-747.
    8. Martin Neil Baily, 1974. "Wages and Employment under Uncertain Demand," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(1), pages 37-50.
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