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Retour au plein emploi ?

Author

Listed:
  • Valérie Chauvin

    (Centre de recherche de la Banque de France - Banque de France)

  • Gaël Dupont

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

  • Eric Heyer

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

  • Xavier Timbeau

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

Abstract

De 1997 à 2001, le taux de chômage a diminué de presque 4 points en France, faisant du retour au plein emploi un sujet d'actualité. Nous montrons qu'une baisse supplémentaire du taux de chômage jusqu'à 5 % est possible d'ici à 2005, moyennant des hypothèses favorables mais néanmoins réalistes. La détente des taux d'intérêt permet une hausse du taux d'investissement, qui resterait toutefois inférieur à son niveau des années 1960. Cette hausse expliquerait 1,1 point de baisse du taux de chômage. Le commerce extérieur contribue positivement à la croissance et à la baisse du taux de chômage à hauteur de 0,9 point, y compris en prenant en compte un ralentissement de la demande adressée à la France. La réduction du temps de travail et une politique budgétaire neutre sont les autres principales hypothèses de notre scénario. Par ailleurs, ce retour au plein emploi nécessite la baisse du NAIRU, supérieur à 9 % selon les estimations actuelles. Nous envisageons des scénarios alternatifs de retour plus lent au plein emploi, au cas où l'ensemble des pays croîtrait moins vite, et de baisse du taux de chômage à seulement 7 % en l'absence d'une baisse du NAIRU.

Suggested Citation

  • Valérie Chauvin & Gaël Dupont & Eric Heyer & Xavier Timbeau, 2001. "Retour au plein emploi ?," SciencePo Working papers Main hal-01073258, HAL.
    • Handle: RePEc:hal:spmain:hal-01073258
    DOI: 10.3917/reof.079.0195
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-01073258
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    as
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