How well does the aggregate demand-aggregate supply framework explain unemployment fluctuations? A France-United States comparison

Economic Modelling

Volumn 19, Issue 1, 2002, Pages 153-177

  Algan, Yann ^a  

^a UNIVERSITÉ PARIS 1 PANTHÉON SORBONNE   (France)

Author keywords

Hysteresis; Labor market rigidities; Structural VAR; Unemployment

Indexed keywords

EID: 10644233890     PISSN: 02649993     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0264-9993(00)00068-7     Document Type: Article

References (26)

1. Blanchard, O.J., 1989. A traditional interpretation of macroeconomic fluctuations. Am. Econ. Rev. 79 (5), 1146-1164.
2. Blanchard, O.J., Diamond, P., 1990. The cyclical behaviour of the gross flows of US workers. Brooking Papers Econ. Act. 1992 (2), 1-76.
3. Blanchard, O.J., Quah, D., 1989. The dynamic effects of aggregate demand and supply disturbances. Am. Econ. Rev. 79 (4), 655-673.
4. Blanchard, O.J., Summers, L., 1986. Hysteresis and the European unemployment problem, NBER Macroeconomics Annual, 1. MIT Press, pp. 15-78.
5. Blanchard, O.J., Wolfers, J., 1999, The Role of Shocks and Institutions in the rise of European Unemployment: The Aggregate Evidence, NBER Working Paper, No.7282.
6. Blanchflower, D., Oswald, A., 1995. The Wage Curve, MIT Press, Cambridge.
7. Bruno, M., Sachs, J., 1985. Economics of worlwide stagflation, Basil Blackwell, Oxford.
8. Cahuc, P., Zylberberg, A., 2000, Le marché du travail, De Boeck University, Bruxelles.
9. Dolado, J.J., Jimeno, J.F., 1997. The causes of Spanish unemployment: a structural VAR approach. Eur. Econ. Rev. 41 (4), 1281-1307.
10. Caner, M., Hansen, B.E., 1998, Threshold Autoregression with a Near Unit Root, Working Paper.
11. Evans, G., 1989. Output and unemployment dynamics in the US 1950-1985, J. Appl. Econom., 213-237.
12. Fitoussi, J.P., Phelps, E., 1988. The Slump in Europe, Basil Blackwell, Oxford.
13. Gamber, E., Joutz, F., 1993. The dynamic effects of aggregate demand and supply disturbances: comment. Am. Econ. Rev. 83 (3), 1387-1393.
14. Hénin, P.Y., Jobert, T., 1993. Chômage et écart conjoncturel: une reformulation de la loi d'Okun. In: Henin, P.Y. (Ed.), La persistance du chômage, Economica, pp. 79-114.
15. Jackman, R., Layard, R., Savouri, S., 1991. Mismatch: a framework for thought. In: Padoa Schioppa, F. (Ed.), Mismatch and Labour Mobility, Cambridge University Press.
16. Jacques, J.F., Langot, F., 1993. La dynamique de la courbe de Beveridge. In: Hénin, P.Y. (Ed.), La Persistance du Chômage, Economica, pp. 115-158.
17. Johansen, S., 1988. Statistical analysis of cointegrating vectors. J. Econ. Dyn. Control 12, 231-254.
18. L'Horty, Y., Rault, C., 1998, Les causes du chômage en France: une réestimation du modèle WS-PS, Working Paper.
19. Layard, R., Nickell, S., Jackman, R., 1991. Unemployment: Macroeconomic Performance and the Labor Market, Oxford University Press.
20. Manning, A., 1993. Wage bargaining and the Phillips curve: the identification and specification of the wage equation. Econ. J. 103 (416), 98-118.
21. Nickell, S, 1997. Unemployment and labor market rigidities: Europe versus North America. J. Econ. Perspect. 11 (3), 55-74.
22. OECD, 1999, OECD Employment Outlook.
23. Perron, P., 1989. The great crash, the oil shock and the unit root hypothesis. Econometrica 57 (6), 1361-1402.
24. Pissarides, C., 1990. Equilibrium Unemployment Theory, Basil Blackwell.
25. Taylor, J., 1979. Staggered price setting in a macro model. Am. Econ. Rev. 69, 108-113.
26. Zivot, E., Andrews, D., 1992. Further evidence on the Great Crash, the oil-price shock, and the unit-root hypothesis. J. Bus. Econ. Stat. 10, 251-270.