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

Author

Listed:
  • François LANGOT

    (université du Maine, GAINS and CEPREMAP)

  • Muriel PUCCI

    (Université de Paris I and MAD)

Abstract

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.

Suggested Citation

  • François LANGOT & Muriel PUCCI, 1996. "Participation, unemployment and wage bargaining in a real business cycle model," Discussion Papers (REL - Recherches Economiques de Louvain) 1996034, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvre:1996034
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    Cited by:

    1. Raquel Fonseca & Rafael Muñoz, 2003. "Can the matching model account for Spanish unemployment?," Investigaciones Economicas, Fundación SEPI, vol. 27(2), pages 277-308, May.

    More about this item

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts

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